Newbie in Holland Michigan Is this a good deal for the location?

[Dave Thomson]

Hello!

Sold our first home (fixer upper) and made some equity. With that equity we're looking to buy a home in Holland, MI and a rental property (single family renting to college students).

Is this a good deal?:

https://www.zillow.com/homes/for_sale/Holland-MI/7...

$170k

3 BR 2 full Bath

Across the street from Lake Macatawa

Worst house on the block

Estimating $50k for rehab

I've listened to biggerpockets podcast for the past month straight and made it through all of the episodes. Doing the research in the Holland area and looking at properties we felt this deal was good for the location. However, we have 2 options:

1. Purchase the house, rehab, and live in it for at least 3 years (or longer if we love it), then look to rent it or purchase an investment property

2. Pass on the house and look into getting two properties right away, both around $130k each in the next few months. One to live in and one to rent.

Thank you for your advice and I look forward to getting to know the community of BP!

Best,

Dave