Calling all seasoned investors - Deal or No Deal?!

[Tuan Pham]

Hey y'all,

I'm currently analyzing a property that I'm not sure is a good deal or not or how to turn it into a good deal. I'd like to know how you would turn this property into a good deal with as much detail as possible. I welcome all opinions, suggestions and feedback be it positive or negative. I'm hoping to this will help me learn and become better at analyzing. 

The seller of this property owns it free and clear. 

Asking price: $119,900

Type: Single Family, detached

Lot size: 66x66

Bedrooms: 3

Bathrooms: 1

Basement: Full, unfinished

Heat Description: Forced Air

Heating Fuel: Natural Gas,

Air Condition: Central

Property Tax: $2,661

[Brian Ploszay]

I don't know enough from your post to analyze this.   If the real fair market value is 150K to 200K, then immediately buy this.  I would put it back on the market for an immediate profit.

However, if the property came from a broker or wholesaler, who came up with that fair market value of 150K+,  then be careful.  Know your market and know the product and you'll be able to make more successful decisions.   Verify yourself the true value of the property.