Offer accepted for run down house in Los Gatos Mountains @450k

[Preeti Tibrewala]

Hi,

Offer accepted for run down house 1bed/1bath in Los Gatos Mountains @450k. 

Lot is 0.26acres, most of the lot has steep downhill slope. Lots of trees and house has septic tank.

Do you think it is a good deal? This is our first flipper home so would love to get pointers and thoughts.

We are planning to fix it and put it on long term rent or make it short term rental like airbnb.

If it was your home what would you do?

Thanks for your help and insights!