Buying a 3/1 house for 24,000 that rents for 550/mo a no brainer?

[Johnny Lau]

House is in Birmingham, Alabama. It’s in decent condition with a tenant already living inside. Will not need much work, maybe cleaning and painting or nothing at all until the next tenant turnover. There are actually several houses to choose from in the same price range. I will have a property manager who’s experienced with houses like that do all the work. What are the pros/cons?

[Jason Cory]

Every local investor has already passed on this house. I told you where it was in your last post about it. I gave you the zip code even though you didn't provide it in your last post. 

The tenant isn't paying. Minor repairs you think? See what happens when you evict them for non payment?

Buy vacant & do the rehab. There's always a reason an investor sells a property rented. It's not because it's making them money. I'm selling a rented house one street away for $65k that's rented for $858. One block doesn't change $300 or $40k. I don't have to sell mine, hence the price. 

Getting the fever in Real Estate is the worst thing you can do. Never force it. 

You'll spend $30-40k evicting, renovating, & renting if you buy this house. 

It's on Zillow for $15,000. Tell the wholesaler thank you but no thank you.