Not for cash: well, you probably could buy two condos for cash, but that's not what I meant.

I meant in terms of down payment. Even here, (rural Minnesota outside the Twin Cities), people want to rent. A house around here with 20 acres of land can be had for less than $300k. Houses in town on 1/2 acre can be found for under $200k, and this is in a pleasant small town. There are many people who for one reason or another can't afford their own home, and make great tenants. My favorite was the guy who paid cash, months in advance because he traveled a lot and "didn't want to be late."

Here in small town midwest you can get decent rental properties for around 50k-60k.

you could get 10 of them in detroit.