Dear Monty: I want to buy my first rental property with my husband. We plan on purchasing with cash and buying cash flow of $1,500 a month. We found a property with three units and a monthly rent of $1,500. The only red flag is that it is reasonably priced and has been on the market for 100-plus days. I looked into the purchase history and saw that the most recent purchase was only one year ago. Could this mean something? Suppose the buyer intended it to be an investment. Is there any reason the last purchaser could’ve listed it so soon?
Monty’s Answer: Three potential reasons stand out.
