To Buy or Not To Buy

[Faiz Khan]

Hello Members, 

I find myself in a dilemma as I am trying to make this property to work for me. I got a mail from this seller who is trying to sell the property for $323k. I went and saw the house and it looked like it needed some 30K worth of work in it and was built in 1970. So it is a old house whose ARV would be around 270k.

   Now, I want to use this house as an assisted living facility/residential care facility.  In order to get licensed, it would take me up to 6 months.  I was trying to use creative financing if this house is even worth the headache (since it is old, and never know what problems lie underneath).  

    I would appreciate it if you can give me some idea on where to go from here.