Please give me your input on this Memphis Prop

[Melodee Lucido]

I am relatively new to wholesaling. I have focused on lease options but keep getting [u][i]possible wholesale leads. This one is under contract by one of my jv partners and I would like to hear what you think.

If passes your scrutiny then I'll put it in the mktplace forum. I don't want to put anything there that could be considered less than best. I applied the 50% rule and it passed---assuming that this would be a cash purchase the cash flow looks good. And it seems to pass the 2% rule also.

Here are the details; please tell me the good and bad.

This Memphis 38109 house needs nothing---it's nice. And the neighborhood is clean.

Section 8 Agreement for 745.00 per month (MHA Pays 100%); tenant is Approved for 835.00 per month; Agreement since December. NO REPAIRS NEEDED.
Just collect rent at the 1st of July.

Laminate hardwood in Hall and Living Room
Ceramic Tile Flooring in Kitchen
Laundry Closet
Bathroom
Security Storm Doors
Vinyl Exterior Siding

Asking $23,500 (assignment fee incl)
according to rentometer average rent in the area is $599

Thank you for helping me learn : >