HELP!!! Is this a deal or a flop??

[Shaeida M.]

Hello BP family,

I ran into a situation that may be a deal, but I'm not sure. I need your opinion on what my options are?

Subject: 4br /2ba townhome in Lauderdale Lakes Fl. The estimated market value is $120,000, minor repairs need.

Owner: She owes $90,000 on the mortgage, she rents it out for $1600 and has a cash flow of $445.

Situation: The owner is going through personal issues and no longer wants the property. She said she would get rid of the property for $10,000-$15,000. She needs that money to move out of state and start over again.

Question and/or advice: Is this a wholesaling, buy and hold or flipping opportunity or is this a flop? Thank you in advance.   

[Jason D.]

So she, basically, wants to sell for $100 - $105k? With a value of $120k, the only viable option is buying as a rental, depending on condition and expenses. There's nothing there for a flip or wholesale deal at that price