Alright guys & gals, so it's not like its the first house I've seen but I need help analyzing if this might be a good buy. I don't really understand how to tell what the true value of the home is. I've looked and see it listed at around 60k but when i go onto my countys property search website it has the land value assessed around 25k and the building value around 20k so a total of 45k. The place looks a little run down but I can definitely see its potential with some landscaping and exterior work. No doubt there would be things to do inside since its an older house (asbestos problems?) and apparently vacant. It seems it was passed onto family through a will according to the property records. So, if its appraised at 45k and listed at 60k is it still a good buy? How do you determine what the real value is, because I recently inquired about a ladies house who put up for sale by owner signs and the house was appraised at 365k and wanted around 430k for it, stating the county records don't really mean anything. I'm a total newb and a little excited about this sort of cheap house. It's out in the boonies, but I could see potential to use the acre land to store boats charging a dry storage fee since it's pretty close to some local waterbodies if renting it out was a bust. The tax bill comes out to $320 a year the record states. 2/1/0, so you're parking in the yard. Not sure what you could get for rent in the area but zillow says it'd be like $230/month for mortgage. What do yall think? What else do I need to find out and how? Should I avoid the real estate agent and somehow contact them directly (not sure how to get their contact info, as its not given anywhere)?

Thank you! I want to do my first deal! The plan would be to buy and hold or buy fix and hold to receive rent.

Yates

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First Single Family Home I'm looking at

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