Big hole in roof for years. Lost cause?

[Neil Sinha]

Hello everyone.  New investor here.  There are two vacant houses on my street I'm considering for my first investments.  On one there is a large hole in the roof that's been there for years meaning there is probably significant water damage and mold inside.  Being new to this, how do you gauge what type of remediation and rehab is needed in a situation like this?  Are there ever types of damage that make a property a lost cause because they can't turn a profit?  Sorry if that's a dumb question, but don't want to get in over my head right out the gate.  Thanks for your perspective.

[Daniel Baker]

You mentioned that both of these dilapidated houses are right next to each other, if you only buy one of these properties you will need to factor that into the ARV of your investment property, because you will still have one ugly house right next to your investment. As far as what kind of contractor you will need, if your not even certain about what type of professional you may need to call, I agree with @Tyler Libby, don't start here, you need to learn to walk before you run. A property like what I am visualizing (large hole in roof for years) may require several different issues addressed such as remediation, abatement, etc. these issues alone could make this a very bad investment and it's not a good way to start. 

Just my opinion but you need to take the emotion out of the equation, I have also been there and done that.