What would you do with a $10k House???

[Josh Nix]

I closed on a $10,000 2/1 house in Lincoln, NE last week and I'm just curious to see what the BP community has to say.

The house is in a good location and every house on the block is currently a rental. It's assessed at 70K, I know that does mean much but just wanted to share the info.

1. I could wholesale it right now as it for around $30K to another investor.

2. I could put $20-$25k into it, making it a 3/2 and probably sell it for around $65-$70k

3. Or I could put $15-$20k into it, making it a 3/2 and rent it for $850-$900.

What strategy would you choose and Why?  

Thanks

[Aaron Junck]

I personally would get it to a 3/2 rent it out and hold it and then in 6-12 months try to get a loan with 70-80% LTV to get my money back out and rinse and repeat. Keep doing that and you will build wealth and cash flow.