Your advice for a poor condition property that is 100% owned?

[Kim Wendland]

Hey Fellow BiggerPockets Landlords, 

Most of the materials I've been learning about from Bigger Pockets assume you're buying a new property. But what if you've owned a BRR and didn't do the last RRs (refinance or repeat)? The property is owned 100% but in poor condition. ARV is $60,000. Needed repairs are $30,000. Would you repair and hold, improve and sell or just sell? Why?

Also, does it make sense to use the same BRRRR calculators and just assume a $100 purchase price for the Pro Rata data? Seems logical, but don't want to assume.

A bit more context:

• Property is 1950 906 sq ft, 2-1-1 with central air on 6,464 sq ft lot
• Average class C SF neighborhood
• Condition is livable, but it's time to true up the asset as severe damage will set in soon
• Should rent from $700 - $800

Thanks for weighing in,

Kim