Advice needed! BRRRR, Wholesale, Fix/Flip ?

[William Harris]

Good afternoon BP family, 

For my first deal, I would like to open a discussion and get some experienced advice on what I should do in my current situation: 

I recently connected with an attorney who place bids at property tax sales each year in Maryland. Long story short, I will be purchasing a distressed home the attorney was able to foreclose on, taking possession as the home owner never responded. I’m stuck with 4 options to decide from. 

* The property is very small with no room for adding rooms/baths. Smallest in the neighborhood 

Option 1: Wholesale the home “as is” and net profit 102% , to walk away without touching anything. 

Option 2: hold for 6months, BRRRR the property to keep as rental, and net profit 50% return by doing a cash out refinance at 75% LTV as an investment property with 15 year term.

Option 3: Post “As IS” on the MLS market and try to create a bidding war due to this hot current market and possibly  make an even higher return instead of using the wholesale option.

Option 4: Fix and Flip while getting my feet wet in the process and net profit 105% return. 

thank you so much for the feedback !!