There is a lot of california money flowing around the midwest right now, some of it is attributable to my group, although we usually buy multi’s. I know a couple of people who have been buying duplexes there.
$250k seems a bit high for an SFR. The members of my group have been buying duplexes for that price around Missouri. My totally off-the-cuff guess for that foreclosure is probably $190k tops for it to be a good buy.
Of course if it’s waterfront property or something, that about throws all estimates off.
Bad idea in my opinion – owning/managing rentals is challenging enough when they are local
