Bad credit & need 10K max to get inherited property ready to rent

[Account Closed]

Hi all,

Not sure if I have any good options here but I inherited a property in zip 80003 and I'd like to hang onto it as a rental. I just need the 10K to get it ready. And my credit is terrible due to some bad times where I had lost my job suddenly, so right now I'm in credit rehab mode (or at least not making it worse since I have a new job and things are back on track).

Mortgage balance is about 130K. Probably worth 350-370K as is. 

Or is it better to sell it?

Thanks

[Jon Holdman]

I would sell.  That's a good rental area and would rent easily.  But the rent isn't high enough for a $350K value.  Further, I'd consider selling it as-is.  Demand is high here (that's an Arvada CO zip code, just north of Wheat Ridge) and you should be able to get a good price even if its not perfect.  $10K doesn't go far, so it must be in pretty good shape.