Inherited house, planning to BRRRR

[John Bates]

I have inherited a free and clear 62 year old house in a good neighborhood. Could do a little rehab, $15,000, on a $130,000 house, but I would expect more work to be needed frequently over time. Work needed includes piering, electrical update, plumbing update, HVAC update, kitchen update and bathroom update, then paint. My speculation based on current estimates to repair, that I would be looking at 45-60,000 .I guess, my point is in current condition condition I would feel lucky to get $1000 a month in rent, if fixed up in a minor fashion. If I put my full remodel plan in place, I would expect ARV to go to around $170,000 and rents to be around $1300 to start with future rents fair to expect to rise as the market allows, I recognize that getting more initial rent should be considered, but I have been keeping tabs on asking rental rates in the area and I am seeing $1400-1500, with more space and slightly better floor plans. I intend to hold this property for a long time. I am not sure a calculator would not support my thoughts of doing it all now, but I feel like doing it all now, will buy me a considerable amount of hassle free time with the right tenants put in place. Any thoughts or considerations that I should make? I appreciate your time and input!