BRRRR First Timer: What to look for

[Kristian Conway]

I'm working on buying my third door and found a large single family that could actually be turned into a duplex rather easily. It's priced $50,000 below market value because the partially finished basement is infested with mold. The house was foreclosed on and set vacant for almost a year. Most people have seen the basement and walked away. I have a mold specialist working on a quote so I can wrap my head around the expenses in rehab. I plan to use the BRRRR strategy on this home. Location is great, loads of potential, however, it is quite the undertaking. I would love for any advice on what to look out for as well as financing tips! I had planned to 203k the mold remediation as well as a new roof and then do the remainder of the work myself.