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Updated almost 5 years ago,
To flip or buy and hold?
A client of mine has a 2 bed/1 bath SFH they are wanting to sell. It needs A LOT of cosmetic work (none of which I will perform) and it's in a C neighborhood. Low crime rate but is a lower income area and old cotton mill town. The sales price is only $10K. The contractor estimates about $15K in renovations. Rental would be around $500/month. With an approximate all-in price of $25K, would y'all suggest a buy and hold or flip? The arv will be about $50K. As an FYI, I have 6 commercial rentals and 1 sfh. I've never performed a rehab.