Am I going to have to take over the Mortgage payments?

After Operating Expenses are deducted, we're looking at about $13K in NOI.Purchased for cash at the full asking price of $244,900, and assuming NO CapEx or renovations, that's about a 5.3% Cash-on-Cash return.What am I missing?

It seems so much better cash flow than properties listed in my area, where you're lucky to get a couple hundred bucks.Example of break-even in Tacoma, WA:https://www.redfin.com/WA/Tacoma/3734-S-M-St-98418/home/2978...What am I missing that these seemingly ridiculous cash flow properties are available in other areas in the country?

Am I better off focusing on doing a flip or wholesaling rather than doing a buy and hold?

Am I missing something?

I am not an insurance agent nor am I currently affiliated with any of these companies. 

Questions: 1- Does the above strategy sound correct or am i am missing something? 

Am I totally off base with my responses?

What am I getting at?

For context, I have a W2 job which isn't related to a real estate trade.If I'm traveling to my out of state rental properties to walk the properties (including potential properties I may consider buying), meet with agent or property manager, etc, am I able to deduct the flight, hotel, rental car and 50% of reasonable meal costs (not a $500 dinner) or food costs (e.g.