Questions about rehabbing

[James Whitehead]

I am looking at a potential rehab near where I live, this property hasn't been lived in in quite some time, for the last 5 years that I've driven past it its been abandoned as best I can tell. I was thinking of trying to find the owners and see if I could take it off their hands, my main question is, as its been abandoned, what is the best way to go about seeing what needs to be done to the house? I am assuming worst case scenario it needs to be stripped to the studs and rebuilt from there, with the construction market the way it is right now is there any price point on the property that would make that a win(other than darn near free). This would be my first deal but its also off market which seems like it would at least be good practice for me to pursue and crunch the numbers and see if I could make a profit off of it as a LTR.