Could be my first deal -- HELP pls with strategy ASAP?!?

[Dan Norton]

OK guys, I'd like your thoughts on this one... [and I have to act fast, as I think I've got competition for this deal]

Just found a home with an out-of-state owner who says the home has 'become more of a burden than anything else'. He used to live there and moved for work, and now rents it out. It has an assumable VA loan with a balance of 226k, and he says he doesn't want anything else but to have someone just take it off his hands. :superman:

The home is in College Park, a popular downtown section of Orlando with a wide mix of building styles from mid-century bungalows to waterfront million $+ estate homes.

Here are the details: 2bd / 1bath, 1150 square feet, Concrete block/brick, slanted roof, built in the mid-1950s. Corner lot, nice double carport, small pavered back courtyard and screened-in patio. [I know it's only a 2/1, this is one of the only areas of town I'd consider such a home]

Zillow's Zestimate is just over $300k, and tax-assessed value is estimated at $251k for this year. [the land is valued at 178k itself]
Currently rented at $1200/month, but lease expires in August. Could likely rent for a couple hundred more, based on rentometer.com info.

Home has very nice tile and wood flooring, 4 yrs new, could use some small touches inside and will look much better with landscaping outside, needs some curb appeal.

My biggest problem here is: WHAT in the world to do with this property?? It seems that renting it might have me running negative with property taxes, but it's in a great area less than a mile from downtown and a couple of blocks away from an up-and-coming revitalization area, so could be good if I can find a money partner and keep it for a while... or maybe a quick 10k assignment, or a bigger short-term light rehab and flip... and I don't know much about VA loans/assumables, so that's another factor...

UGH. OK, Let's start with some feedback and discussion on this one -- ?? (and if the answer is "GRAB IT" -- since it's assumable VA, how to go about doing that?) Thanks!