The perfect BRRRR or Disaster Waiting to Happen

[Eric Martin]

Hello everyone,

This property was brought to my attention as a possible investment. This would be my first attempt at a BRRRR and would like to get your thoughts on it. What would you offer? How much would you expect to spend on rehab, etc. or would you let it go and move on?

It is in a very nice and growing community. Would be framed as a 2 bedroom, 1 bath home and could get $850-900 in monthly rent once complete with tenant paying utilities. The home is 760 square feet. Please see pictures and video below! 

This property currently belongs to an investor that I write insurance for and he knew I was interested in starting real estate investing so he said I can give this one a shot and to make him an offer. I got an estimate to update the crawlspace, foundation, exterior walls, subflooring, framing, and to remove old electrical for $26K. I or close friends/family are able to do the electrical, insulation, finished flooring surfaces, drywall, roofing, and painting. Still need to get estimates on HVAC and plumbing. Anything else I'm missing here I haven't listed?