Rehabbing?

[Dwayne Stutzman]

Ok I know alot of people say nows not the time to do rehabs because of the market. But thats what I really want to do. So heres my situation.

I don't have a mortgage or rent to pay and I have found a property thats in a good area and is a pretty good house. 3 bedroom really 4 but wold make the 4th a bathroom I think its down stairs and theres no bathroom down stairs. Any way it has a nice layout and every thing. I figure it needs some were around maybe $40,000 in repairs at the most. There asking $40,000 for it right now its a hud house after figuring my numbers I feel I need to get it for around $15,000 or$20,000 no more than that and the ARV comes out to around $95,000.

Sorry this is so long but would you guys recomend doing a rehab for my first deal. I would plan on rehabbing it and then retailing it.