To sell or not to sell in the Denver market

[Susan Grinde]

My mom has inherited a property in a wonderful Denver location. As many of BP members know, that market has been crazy. The home was left to her by her partner of 44 years because he wanted to make sure she was taken care of. She does not think her situation is conducive to keeping it as a rental since she is 86 years old and has many health issues. On top of that, she is living with me in Washington State because she can no longer live alone in Florida. I would love for her to keep it and use it for a rental as I believe she could cash flow about $1,000/month, but she wants nothing to do with it. So, I am not sure what to do to help her but to turn to the BP members for some insights. We are not familiar with the Denver market enough to know if she should sell "as-is". Many homes in the area just get scraped and $1+million homes are built in their places, thus "as-is" looks pretty good. Or put some money into it to update it to sell it. The ROI could be pretty good as it could go from a 2bd/1ba to 3+bd/2ba with some work. Maybe some of the BP community that work in the Denver market (realtors, contractors, flippers, etc.) have some thoughts that would help her with her decision.