Buying double lot and sale one lot?

[Briseida Barillas]

Good afternoon,

I'm in the process of purchasing a double lot with one side having an older home 2 bed 1 bath that needs a little bit of work.

I am hesitant because if we rented out the home it would just cover the mortgage.

But our plan is to sale the lot next to it and will hopefully get $40-50k for it which would end up giving us our money back that we used for down payment and closing.

This would be our first investment property but since there isn't much cash flow in the actual house, is this still considered a good investment?

Thanks for the advice!