Analyze this deal - Baltimore

[Nicole Bryan]

Hello Team,

I have a property under contract in Baltimore and wanted to get your input on whether or not it seems like a good deal. Here are the details:

* Property is about 2 blocks from Morgan State University in the 21239 zip code. It's a 2 bedroom 1 bathroom; about 960 square feet, with partially finished basement. It definitely needs some work -not just cosmetic as I first thoughts. There's a roof leak, the heater wouldn't turn on when I attended the home inspection and the electrical system is dated (no GFI, etc). Under contract at $50,000; rental income approximately $850-$1000 for the area based on recent research.

Any B-more experts have insight on whether or not this makes sense? The owner has countered the inspection request and currently doesn't seem interested in taking care of the the repair work.

What do you think?

Thanks!