Line of credit on a house with no Mortgage

[Danielle Tucker]

Hello my name is Danielle, I have a question about what is best to do in my situation. My grandmother passed away and left me her home, it is paid off and its Market Value is about $50k. I would like to lease it out but I need a few things done to the property before I can take that step. Would it be wise to take out a line of credit to fix up my grandmother's house so I can lease it out? Or should I not do it because it is already paid off? Please advise.