Anybody do work in Newnan, GA?

[Darrell Shepherd]

Anyone invest in Newnan, Ga? Got one off my website I agreed to buy yesterday just because it was so cheap, but I'm having trouble with the value. It's in a lesser part of a decent area, I think Zillow is way off (they say $56k), one of the others said the range was $19k-$120k, never seen that kind of spread. Average in the zip is $90/ft, but no way is this house worth that. Anyway, it's an hour away, so I'm trying to figure out my exit. Glad to flip it to someone if they want it. I'm buying it so cheap I could wholesale it for $5k and be happy. If not, I'm trying to figure out what I can sell it for when I do the work. Needs a full reno, had a small electric fire, so needs rewiring and new Sheetrock and such (they gutted it). Prob have $25k in it (including purchase) when done. Im guessing a value in the 40's. It's small and doesn't need nice stuff, so the rehab costs are fairly low for that kinda job, plus the Sheetrock is down so there shouldn't be any surprises. Rents I'm guessing in the $600-$650 range if that's the way you'd want to go. Anyway, looking for someone that knows the area to give me some advice on this thing. Always scary doing a new area without hard numbers, even if they are this low...