Potential Deal Found Advice Needed

[Guillermo Vladimir Robles]

I found a duplex deal in Milwaukee, Wisconsin that costs $3,500 to purchase and $47,500 in essential repairs, for an estimated price of $51,500. I need to show proof of funds. Is this a good deal?

[Marcus Auerbach]

Probably not. We are in a market where local buyers pay 10% over asking competing for a 250k duplex. Yet we have a few parts in the inner city that are so undesireable, that a property will sell for less than the lumber in the front porch is worth.

PS: it actually has crossed my mind to buy these properties and sell them for parts LOL