If you got a great deal and you project high on costs and low on rents then it could make sense. A lot depends on your own goals and situation too.

I own rentals elsewhere because I have experience there and its more affordable. I feel like I can get more bang for my buck. I have considered many times buying in Utah because I really like the market long-term for more stable equity growth, rent growth, and occupancy. I have not pulled the trigger yet. For me the danger is not being over leveraged because I am very confident that I have other rental income that would keep what I buy in Utah afloat even if it went unoccupied or brought in significantly less rent. That's actually one of the reasons I've consider it. I would not consider it if being over leveraged could sink me or my LLC. I simply do not invest that way. The danger for me is tying up my rental income in a non producing property which is what would happen if a Utah property did not produce the way I want it to. This would restrict buying future rentals here and in other locations and potentially make me miss large buying opportunities if a recession does occur in the next couple years. That is what has held me back. I've mostly settled on turning my current residence into a rental when I feel like the owned equity makes a refinance for a lower monthly being covered by rent more attractive. Then I'll rinse and repeat with similar low middle income homes.

Here's a couple other thoughts or questions to ask yourself:
-If this is your first the stresses are going to feel higher. When you get hit with a major cost on your one rental it feels very heavy. When you have 10 rentals and a major repair is needed it feels par for the course.
-Do you need the rental income to live on?
-Can you support the rental if its bringing in little or no income?
-Are you in it for the long-term or short-term? If long-term than it could be a good buy depending on price.
-Are you managing it yourself and if so how capable of doing so are you?

I'm no pro. I'm just writing what I think. The truth about all financial decisions is they are personal and need to be applied to your situation and goals.