Worth Pursuing?

[Chris Weaver]

I am looking to buy a house worth about $140,000. It needs a little work as it's a 70s ranch and I would hope to get it for less than $100,000 (around $90,000) and put a little money into it, being right around $100,000. After a little work it might be worth around $160,000 or $170,000. I know it would rent for $1100 but I'm not sure if anyone would pay more than that. The biggest issue is that the taxes are $3,000. $100,000 with 20% down over 30 years at 4.5% is $655/month including tax and then obviously we have maintenance, capex, insurance etc. So with taxes being that high would it be better to rent it out for pretty much no cash flow or try to sell it immediately after repairs?