Inheritance

[Marion Edwards]

I recently inherited a 1200 square foot 3BR SFR in Flint, Michigan. The house is free and clear with the exception of a water lien and back taxes of $4000. The house has water damage from a leaking roof and I've received renovation estimates of approximately $20,000. I'll have to finance this work as I don't have the cash to get this done. The ARV of the house is only $39,000 but I'd like to rent it out for $700 per month. I'm still a rookie investor and was wondering what you seasoned pros thought about this deal. Thanks in advance.