Got it. Finding a renter, that and the rental price won’t cover the mortgage.
Here in Denver there are loads of rentals, but there are also loads of people that no longer qualify to buy and have lost their home so they need a rental. They have jobs as Denver is still doing extremely well compared to many parts of the country. In fact, outside of professions dealing with residential or commerical building, we are doing great. We have had very few layoffs.
The average rental rate here is about $1,500. $1,200 will get a small house in a rundown community while $1,900 will get a very nice and large home in a new community.
Even in a "normal" real estate market, when rental prices won't cover the mortgage on the same house (there's actually a ratio that is used as an average since it depends on that homeowner's down payment, rate, etc) it's generally an indicator that a market is overpriced.