Wholesale or Rehab/Flip REO multi-unit?

[Rene' Casey]

Wholesale or flip REO multi-unit? What would be the best way to structure the deal?

Multi-unit Property AvailableNorth Cental Texas, near major universityFinancial Summary Proforma
Year: 2009
Scheduled Gross Income: $185,760
Effective Gross Income: $185,760
Operating Expenses: $108,659.84
Net Operating Income: $77100.18
Tax Rate: 2.39%Unit Mix Information
1 Bedroom/1 Bath
No. Units: 25
SF: 460 avg.
Avg. Mo. Rent: $6002 Bedroom/1 Bath
No. Units: 2
SF: 830
Avg. Mo. Rent: $700

3-bedroom/2 bath
No. Unites: 1
SF: 918
Avg. Mo. Rent: $80028- Unit Multifamily Apartments, 2 bldgs.
18,753 sq ft Occupancy: 21%; (6 units @ $525/mo.; 1 unit mo.-to-mo.)
Year Built: 1964All information includes both buildings.Estimated Value: $529,794
Estimated Cost of Repairs: $250,000 (Professional estimate)
Estimated ARV: $840,000
Each building sold in 2005 for $450,000 for a total of $900,000Recent sales in the area with 2,000-4,000 less sq. ft. sold for average of $756,000.

Thank you for your help in advance.