Should I Buy in Jackson MS?

[Matthew White]

Good Day!

So I am currently analyzing a deal on a Duplex in Jackson MS. I may be able to acquire and rehab this complete gutjob for close to $40k (still waiting on a full scope of work from contractor). I would be acquiring and rehabbing with all cash. Once rehabbed, I believe I can reasonable expect approximately $600 per side. The property is located close to the large hospital and university, however itis still a rough area.

My question is this. I don't believe this is an appreciation play by any means, it would strictly be for cash flow. My biggest worry is that I won't be able to refinance once it is stabilized to pull my cash out.

Should I proceed with this "deal"? By the numbers, it should cash flow well. But I worry about the refi.

Thoughts?

Thank you in advance.