Introduction with some questions

[Jake Holmes]

Hows it going, Im John but go by Jake. Im just in the research stages right now. I still have to work on my fico score as well as my wifes score. Im currently a manager at a Gentelmans club in the Denver area but life in the south colorado springs area. 

Now my question, I have a double wide home on a foundation in the woodland park area that is extreamly delapidated. Time and bad renters have taken its toll on the house. I am currently using it as storrage for the time being. What I want to know is should I 

1 Donate it to the fire departmen for training and let them burn it down for training (take the tax write off) and put a new trailor there

2 Just tear it down and put something else there 

3 Rehab it, it will need to be gutted and a new roof

My second question is, The house Im renting is owned by a military guy. Ive spoken with him and hes willing to sell it to me for what he owes on it plus tax's so about 150-160. How do I find out what the actual value is to decide if its worth it to buy it as a rental. I used the calculator on here and it said i would pretty much break even but I also dont know what to put in for some of the values.

[Anson Young]

You would want to get an agent or experienced investor to get you comps and come up with a value as is.  That way you would know if you are getting a bargain or potentially way overpaying for the property at the amount of what he owes plus tax (which I dont get, but whatever).