First deal and mold

[Daniel Florence]

Hello and thank you to anyone who's reading this! I'm somewhat new to real estate investing and so glad I found BP. I've been researching and reading as much as I can to make sure I start out in the right foot. I'm looking to make my first investment and found a property within 15 minutes of my home. It's an REO and needs almost zero rehab other than mold on the garage. The mold is on a side wall near the garage door and I'm meeting a remediation contractor to look at it next week. I'm torn with this one because I have no experience with mold and some say run for the hills while others say mold smells like $. The asking price is $209k and it's been on the market for almost 6 months. Similar homes in the neighborhood are selling for $220-$230. It's been on the market for 6 months and I'm thinking if I can make a cash deal for $150-$175k it could be very profitable. My question to the experienced investor is...would you walk away from a this deal because of mold? Would I be taking a big risk if this was the only rehab needed?