Just picked up a Condo for $14k

[Mike Wallace]

700 sqft 2 bed 1 bath, full unfinished basement.

Needs new water heater, furnace, central out unit, new carpet.

Everything else seems to be in great condition.

Under 4k in updates to get it rent ready.

Monthly expenses will be

$30 association fee

$60 property taxes (700 per year)

$insurance..waiting on a quote from my broker.

the comps in the area rent for around $650-700

seems like a no brainer to me. What do you guys think?

This property is in the Metro Detroit area.