irreparable investment property?

[Gavin G.]

Looking at this 4-unit in Miami, Florida (see pictures). Both homes need an unbelievable amount of money and work put into them. Looks like part of the roof has a problem and even a hole in the side of the property as seen in the pictures. It was build in early 1960s and wood frame. My question is, can something like this be fixed or is it best to leave alone--and ostensibly demolished at some point? Any insight on these types of situations would be greatly appreciated. Thanks everyone. 

[Gabriel Amedee]

Hey @Gavin G. !

What is your investment experience? I believe that is what will determine your answer.

I've "fixed" many homes that others have perceived as needing a demolition. The pictures above don't cause any form of intimidation in my perspective.

If you can identify what the property needs in order to be restored then you can calculate the price you need to purchase it for in order to make sense. I do factor in a higher return for these more intensive projects but I can't dismiss them when I'll get a much higher return than the easier projects on the market.

Hope this helps. Happy investing!