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Updated almost 8 years ago,
New to game with an opportunity, please help
Hey there, this is my first post and I'm just getting started in investing. My mother wants me to have my grandmothers house in Corpus Christi, Texas. Mortgage is paid off however property taxes are equalling about $57,000 from the years and years of my grandmother being unable to pay them. Lots of remodeling and renovating are needed. Property probably couldn't even pass an inspection yet it is livable and would be a cheap roof over my best friend and I's head when moving back to Texas. (Garage needs a new roof, I'd like to add a full bath to the master bed, remodel the existing bath and kitchen and take down the wall separating the kitchen and dining room) just a few things I can think of off the top of my head. In what conditions would it be a good idea to jump in and take this project on? Could I bargain the city or country with the property taxes? Any questions to think about, advice or input is welcomed and appreciated!