Buy and Flip, Buy and Rehab? Buy or Rent or Run!

[Steven Wagner]

Considering my first investment. A foreclosed property that is in rough shape. 980 Sg.' 2Bed/1Ba.

* For Sale: $20,400 (Homepath)

* $50,400 Value

Rents in the area for similar are right at $500-600

Property was foreclosed with a loan at $69,750. 11/5/13

There are some young professionals coming back to this historic neighborhood.

Have no experience with Homepath.

Could buy this outright or prefer financing to use to rehab the home.

I am sure that there are many things I am missing so any and all advice would be appreciated.