Need your help, about a deal I'm considering in Philly:

[Assaf Kehati]

Hey guys,

For you who knows the Philly market do you think this is a good deal:

Buying a house in Point Breeze, 3 bed, 1.5 bath, 1250sq ft. Really close to tasker morris station.

House goes for $250K. It think that the price is about right looking at comps. If you know the area well let me know what is your opinion. Zestimate is $315K.

Cash flow won't be great for me since I will be taking an expensive loan at 7%.

Expenses would be: mortgage+taxes+home insurance= $1300

Management fee of $100 will be waived for the first year.

There are renters in the place with a contract till June 2019 and they pay $1635.

What I'm considering is that:

Get the place, have little to no cash flow and when the renters contract ends in June 2019 have them out and renovate the place and:

1. rent it out for more or

2. if the market is higher/ home value is higher after renovation, sell for a profit.

What do you think? Thank you.