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Updated over 5 years ago,
Looking to buy 2 houses with potential structural work
So I have an East Tennessee property under contract that has 2 small houses on it (500 and 800 square feet). The area is prime for airBNB, other similar houses in the neighborhood are getting great rates and renting very consistently.
The trouble is the houses need some work. Besides all the cosmetic stuff. The inspector said there was likely some structural work that needs to be done in both as the floors are very uneven. Everyone gets nervous when anyone says structural work.
Is it really that bad? What would it likely cost me to repair in a home that small?
I’m getting a great price for the houses, and If they were fixed up, the cash flow would be great. Should I run?