Toledo House Free and Clear What should I do?

[Darrell Lee]

On a whim, I bought this house sight unseen. I'm thinking I should partner with a flipper that wants to get started in the business or an experienced flipper to rehab this 3br/1ba house and then sell or rent it. In the 43605 area. Zestimate is around $38k. Kitchen has been demoed and the bath needs rehab. Roof, heater and water heater seem to be okay. 

I put a value on it at  $6k. Should I just sell it? If someone wanted to just want to buy it, fine. I might carry the paper short term and the investor keeps all the profit. But maybe it would be better to partner and he/she could get in for low/no down. Partner put in your sweat equity and total the costs of materials. We add the material costs to our combined basis and when we sell it, we split the profits. Attractive idea?

I live in Vt and I renovate homes and commercial properties as my full time business, so it is too far for me to run the renovation. PM me if you are interested and I"ll send you the address.

[Engelo Rumora]

Originally posted by @Rob Badhorn:

@Darrell Lee

@Darrell Lee I agree with Engelo and Adam. 43605 is a rough neighborhood.   Before buying, I check Trulia.com and its crime map.  Although not super accurate it gives the out of town investor an idea if the area is rough or not.

Spot Crime is also a great source - http://spotcrime.com/oh/toledo