Question

[Jessie Tetreault]

I have never posted anything on this website but have a couple questions about this particular topic. So I have found a property that is listed for sale for 60k. It was a 5 family home but got completely lost to a fire. Built in 1920. But what I'm interested in is are the 2 single family homes that come with the property. The total rents are $1675.00 per month. They are on month to month. There are a couple of issues that come to my mind. How hard would it be to demo the 5 family. Also there are back taxes owed on the property for $5500.00.  my plan if even possible would be to fix up the single family homes a little more. Demo the 5 family and try and see if I could sub divide the land that the 5 family was on and recoupe all or most of my investment. Just wanted to see what you guys think.