Inherited a Property, Rent, Flip or Sell?

[James Graham]

I recently inherited a property and am unsure what to do with it. 

I have a cash offer of $50k as is.  In order to rent or sale the property, I will need to invest $15-20k. After rehab property would be worth $80-85K. The house is in a less than desirable neighborhood, out of state, and very little appreciation potential long term. 

After rehab, expected rental profit after expenses (not including holding or maintenance cost) would be $600/month.

I am new to real estate investment and while the cash flow would be good, it is prohibitively far and an undesirable neighborhood.  I believe I could potentially invest in two rental or rehab properties in my current area.

Would really appreciate any feedback or points of views the community has to offer.