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What are your thoughts on buying rental property with interest rates so high?

On the one hand there are many homes on sale sitting for many weeks even months where I live in South Texas. I feel like I can lowball someone and get a great deal. But on the other hand interest rates are so high I’m concerned the mortgage and taxes will be too high to make a profit. I have enough disposable income that having the house empty wouldn’t really affect my bottom dollar or way of life but obviously that’s not the goal of a rental.

submitted by /u/DestinyPandaUser
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source https://www.reddit.com/r/RealEstate/comments/1n40gl0/what_are_your_thoughts_on_buying_rental_property/
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