Ocala, Fl rentals - buy turnkey ready or fixer

[Michael Cortez]

Hey so I'm in the process of doing a HELOC on my main residence in NJ. I gave an anticipated home value (number I got from my realtor who sold me the home and still keep in contact with) which was 500K. If the house comes back appraised at that value I'll be able to take out 50K. I'm looking to put that money toward a buy and hold rental in Ocala, Fl. I have family in the area so I'm somewhat familiar with it. For anyone that has done business in the area, with a budget of 50K or little less is it better to buy something turnkey ready or a property that's a little bit of a fixer? I know if I had more to play with I would want a fixer for sure to get some forced appreciation.

Btw I do plan on getting a mortgage of course I’m not naive to think I can get a house for that cheap anymore lol. 

Thanks! 

[Clay Lehman]

@Michael Cortez - full disclosure, i haven’’t worked with a hard money lender myself. I attended a confer event this week where we had a couple of hard money lenders present. I will dig out their info and shoot it to you. Good luck and let me know if me or my Ocala real estate/property management teams can be of any help!!!