Upside down properties

[Kendall Mitchell]

Hello everybody I'm a investor currently living in the Chicagoland area. I was looking at properties in the Milwaukee area and they have many foreclosure selling for under 20k and the scope of work range from 50k-100k easily. The ARV for many of these properties wouldn't break even with the purchase price and rehab cost, thus selling the property would be losing money. I was thinking that a buy and hold approach would be best. What is the best strategy for properties with lower ARV then the purchase price and rehab cost?