Deal #2-WooHoo

[M Lindgren]

Just signed a purchase agreement for a 3br/1ba tudor style home. Interior has been totally redone-probably within the last two years including new kitchen, refinishing all hardwood floors, paint, new bathroom, etc. The only bad point is the ceiling in the dining room which has a wet spot. The dining room sits off the back of the house and has a flat roof which serves as a balcony off one of the bedrooms above. There is a split seem between 2 pcs. of plywood that have some sort of rubberized paint as a sealer. Probably needs the ceiling pulled down and replaced and a roof put on that area (8' x 12')

Purchase price $18,500.
Rent Potential $800/mo.

What are your thoughts?