The plumbing will fail again, or you could get water under the house in another way.

This was purchased in 2011 when it was the buyers market.

How many tenants or buyers would really be interested in such a property?

If it is less than 30 days, the owner can kick someone out for failing to pay or obey the rules.

If you’re owner-financing your sold properties and receive more then $600 of interest from the buyer – per property!

I have a possible seller financing opportunity, where I would be the buyer. 

@Calvin Rappard I don't think it is feasible to do a new screening every year, and more importantly, I am not sure you have the tools to move someone out if they fail....

Let's be honest here, the listing agent didn't have to do much to procure a suitable buyer.

The deal itself seems like an incredible opportunity for the right buyer,  penciling at a 9 CAP. 

I also work with a team that helps cash buyers execute the BRRRR strategy or build rental portfolios, making it as seamless as possible for out-of-state investors.Best of luck, and let me know if you have any specific questions!