How to sale a hour price range form $65k to 75k

[Bruce Wynn]

Dear all Veterans, I am totally a new in the arena of real estate investment. I am currently live in Houston. Recently met an some new people and one of them would like to sale a house that they own to me. Asking price is 50k. The house locate in older neighborhood that not so great. Looks like it's a low demand area since not much sale translation around the subdivision for last two years. House in a decent shape. The how was purchased couple years ago through an investor owner financed. I think I can get down to 45K and another 8k for rehab. Market comp for 70 to 73k. I heard people said low price house a hard to sale since it not in a very desirable, low income area. Bank don't like to finance those just a bit over 50K too. Should I go for this first rehab project or should I stay away from it. If go for it, what is the best way to sale it back on to the market? Greatly appreciated for your advice.

[Brent Coombs]

@Ned Carey, ah, yes. Thanks for that explanation. I agree that "either way depending on rents a landlord may be interested". I'll put it this way: the person who should look at this "deal" is a buy-to-hold Investor/Landlord, rather than a Flipper.

@Bruce Wynn, do the Rental returns warrant YOU becoming its long-term Landlord?...