Homes being offered for rent at a rate of $500 or, candidly, less than $750 per month (within the Greater Las Vegas Area) are most CERTAINLY a scam. Whether they are in foreclosure, being offered for short sale, tied-up in a bankruptcy, or simply don't exist; there is a reason they look "too good to be true". A good rule of thumb is to look at what apartments rent for within a given area and then compare that to house rentals. Seldom, but on occasion, you'll find apartment rents higher than home rents. More often than not, homes rent for more. Why? Because those who live in apartments want to live in a house. There are expenses which accompany home rental but do not accompany some apartment rentals (perhaps: water, sewer, trash, lawn/pool maintenance, cable, Internet, etc.) and these stand as a potential barrier to renters; however, landlords are seldom concerned with such expenses. The landlord (of a home) is mostly concerned with Mortgage, property taxes, home owner's insurance, etc. Rents will ALMOST ALWAYS out-pace the cost of ownership (monthly) unless the given market is experiencing tremendous appreciation (valuation) which encourages some landlords to rent below "market" figuring they will make up the $$ lost on potential rent by offsetting it with the appreciation (value) the property experiences during the rental period. Hopefully this info is helpful to you. God bless.