Should I do this deal?

[Yousef Reda]

Cash flow great. Area appreciating yearly in last five years. Tenant seems very responsible and staying there long term. Very poor condition of house. Roof, water tank recently fixed. There is a leak coming from outside when it rains to the basement stairs. Area is actually decent and not a vandalism or crime area. Lots of phillipinos around which I know makes it more safer. According to tenants there is one repair per year. Last one was a sink leak. The agent posed that we offer a price equivalent to the cost of land and maybe the roof. So will hopefully get a low ball offer . Average home prices 200 to 250 k. We may offer 150000. Essentially use this as a rental income . When I have more capital in five years in thinking of demolishing it and possibly building two new houses or one better triplex on top as the lot size is for two homes . Anyone have any thoughts on why I shouldn't do this deal