Bad time for a brrrr deal ???? HELP

[Edgar Hernandez]

Hi Guys,

I am a newbie first time investor. Found a property on the MLS for 65,000 . Needs about 80k in renovations. Arv is 180k-200k . With built in equity . Motivated seller. Rent in the area low end 1100 higher end 1200-1600

It’s a D property on a B-C location. Taxes are $1175.

I am thinking of pulling the trigger and offering $46,000. What are your thoughts during these current times. Should I proceed with the offer or wait it out and save my cash.

If I do buy it I'm planning to use my business LOC for renovations or possibly getting a hard money loan.

What are your thoughts ? Please help!