Purchasing cheap properties with unfixable issues for cash flow

[Steve R.]

Hi BP! I have been going back and forth over this issue.

I am currently looking at a 3/2 SFR in a decent neighborhood that that I can pick up very cheap but it has sloping floors. It sits on post and piers with a crawl space. The house has been there a long time and I don't think it will move much any more. I can purchase and do a light rehab for 20k but I would not be fixing the sloping floors besides trying to jack up here and there in the crawl space. I should be able to rent it for 650-700 a month which would generate around 375-400 in cash flow or I could sell it right away contract for deed without putting much into it for 30K.

What do you guys think?