New acquisition guidance

[Aaron Tholey]

Looking for some guidance, any input would be appreciated! Recently a wholesale opportunity came across our desk in our local area. This is a wholesale off market property, cash only deal.

1930: 3bed/2bath. 2 car garage. Easy 4th bed addition. $180k accepted offer. $230k ARV. 20k remodel. Comps suggest rent $1700/mo.

Signed purchase agreement and closing date. We were worried about the pipes as the heat was not on during our tour. Seller agreed to let us clean up the exterior of property and get heat on prior to closing. (This was after earnest money and PA signed). We are into clean up and exterior for 5k. Seller then missed closing date. Seller then told us to vacate property and locked us out. Seller is now proposing new closing date. After this delay we have a sour taste in our mouth and have started crunching numbers.

Wondering if YOU think the juice is worth the squeeze?!