Good Evening BP Nation,

I have a potential opportunity to put together a deal but am not exactly sure how to proceed.

Situation: My mother-in-law owns a house in the Point Breeze neighborhood in Philadelphia. There is no mortgage on the property and she will literally give it to my wife and I to do what we want with it. However, she hasn't lived in the house in 10 years and it is probably just a shell at this point (we are getting someone to go and take pictures of the property this weekend since we live out of state). I've checked the county records and know that she owes 6K in back taxes. There are probably gas and water liens to go along with the property liens. The ARV for that area is 75K and it could rent for 1K a month.

I would like to either 1) wholesale the property 2) flip it or 3) rent the property (my least preferred exit strategy). My primary objective would be to control the property (FSBO?) without paying money out of pocket and sell to another investor who can then flip it or do a buy and hold. However, if I can make considerably more money by flipping it myself then I would do so. If I did decide to flip it, how could I do so and avoid paying all of the taxes and liens on the front end? If you were me, what kind of deal would you put together? I look forward to your feedback. Thank you and God bless.

John