For homes in that price range you need to either be open to a nice mobile home or go deeper into the valley such desert hot springs or further. Inventory is very low and the market is very competitive especially with these institutional investor buying up a lot of properties for rentals and besides paying all cash they are also willing on some properties to pay a littl above market. Also when buying rentals/income property...What is your target number..is the Cap, ROI and or GRM. You want to make sure you understand or work with someone who dose the different formulas when dealing with buying income..That is what you are doing when you are buying rentals. The formulas are based on your by and hold strategies which you can see there are a few. I hope this helps.
Are you wanting to find a $50,000 home and buy all cash?
Or are you suggesting you have $50,000 available for a down payment?
I would suggest you consider looking at Homepath properties and financing as an option, as well as traditional financing with 20-25% down payment.
Contact me if you have questions.