Potential deal next to condemned house

[Ryan Billingsley]

We are contemplating purchasing a property that needs rehab for a flip opportunity.  It is a 3/1 833 sqft slab home.  It is next to a condemned house on a decent up and coming street.  80% of the homes on the street are in good shape and well cared for.  The numbers for the deal are:

24k purchase price.

25k rehab

ARV 80-90k

The numbers are decent for this but the only issue is the condemned home next door.  The condemned property is not in terrible shape.  Actually it is in similar shape to the one we are considering.  

Buy or pass??  What would you do??

[Kevin Harrison]

See if you can swing both homes. Either that of start working on seeing if the other one is for sale and try to buy it when you are done with this one. You might be able to bring the price of the whole block up by getting rid of an eyesore and having 2 freshly rehabbed homes right next to each other.