Structural issue on a property

[Noyessie Hubert]

Hi All,

I'm looking to buy my first property and I found one in a neighborhood I like. I plan to do house hacking. It is a 2 family with a finished basement. Ideal for me.

The only issue is structural issues; the agent recommended that I go with a FHA 203K loan. When reading a book from a bigger pocket, they recommend avoiding structural / foundation issues. But in one podcast they also mention that this can be a great opportunity to negotiate good deals. So At this point, I'm lost.

What should you recommend in this situation? Is there a way to accurately evaluate the repair cost of this kind of issue?  Any help or advice will be appreciated.

the property is listed for 420k and I expect an ARV of 550k.

Thanks

[Melanie P.]

I do not recommend starting your real estate adventure with structural problems. There will be another deal. Be patient.