" Knowing " which Properties make good Potential Flips vs Rentals

[Michael Dunn]

I have been scanning through my local Market this evening , and am wondering what signs and specifics , help determine which Properties make for good Flips vs those that are better off just being Rentals .

Alot of these houses that I could purchase with Cash are not in the best of areas, since my Cash Budget is only around $90,000
So for me to be able to purchase a property for say $50 - $60,000 and put maybe $10,000 - $15,000 in it or repairs and upgrading , this leaves me with having to purchase properties in areas that aren't the safest.

But my thinking is ....... Even Properties that sell in say the $75,000 - $90,000 range ( ARV ) , someone has to buy properties n these areas. So if the numbers work, and he price is right ( my All-In costs ) vs the ARV and their's Immediate Equity gained once I sell the property, then why not do it ?

Deals come up all the time where I'm from, via Foreclosures, Short Sales, etc. via Properties selling for $50,00 - $60,000 .
If I get n accurate Estimate that the ARV will be say $80,000 - $85,000 , and Im All-In the property for $65,000 ..... then would it make sense to do the deal ?

I guess it depends on how many properties have sold in that area/neighborhood in the last 60 days and for what prices those properties sold for..

I just don't want to get a Property in a not-so great ( But NOT terrible area ) , with the sole intention being to sell it , and when I go to put it up for sell...... I have a hard time selling it , and it sits on the Market for months on end, and I end up eating the Bill.

I understand that I can Rent it out , but I'm using Private $ , so the Backer will of course won't their$ back + the $ we agree upon once it sells.

But if I can't sell it , then i'm stuck

Any and all insight , tips and advice is much appreciated