@Marvin Lara I'm almost on the other side of the country, but wanted to say ...

If you were standing in front of it you'd probably just think to yourself, "Wow, this house has a big side yard!"

A friend of mine from Upper East Side bought a condo there and is getting a 9%+ cap rate. 

Especially if you do not have experience as a landlord.The flip side is they qualify a property on a fairly high percent of your income if you are doing an owner occupied loan. 

Most seasoned investors with numerous properties under their belt are sitting on the side lines accumulating cash for when the adjustment hits.

Unless their planning on holding costs for 2 properties, while theirs sells, those really great houses they look at would probably be under contract in days in a hot market.

I know Greensboro is a hot market right now.

Purchase price : $80KMajor Rehab: $50 k ARV: 170K-175KRent : $1600/monthRehab: Based on quotes I received from 3-4 contractors: new roof, foundation fix, sheet rock, new flooring, landscaping, new bathroom, kitchen, siding.

Work side jobs, and plow into more rental properties.  

Everyone and their dog will be reaching out you now (and in the future) about their "hot" investments.