4-plex with lots of possible equity (relatively speaking)

[Frank Adams]

I'm looking at a Foreclosure REO vacant 4-plex that was just listed. It's being sold AS-IS for about $20K. The Market Value is $175K.

It appears to be legally zoned that way by the county as well from the information I've been given.

I've never been involved in these kinds of deals and was wondering what I need to be aware of?

No clue what kind of rehab is needed if any. It's a mix of 2/1 and 4/1, two of each.

[Ryan Evans]

You may have found a great deal or a dead end. It's hard to tell if you don't know what sort of rehab you're up against. I invest in the midwest so I know those as-is properties can be tempting on paper, but you've got to have someone see what you're really dealing with. It could be that the place is just rundown and you can fix it up and make a great deal out of it like @John Leavelle, but you also could be up against flood damage, pests, toxic mold, a prior meth lab, or any number of things. There is often a good reason why it's sold "as-is!" Get an inspection!