I recently inherited a property and am unsure what to do with it.
I have a cash offer of $50k as is. In order to rent or sale the property, I will need to invest $15-20k. After rehab property would be worth $80-85K. The house is in a less than desirable neighborhood, out of state, and very little appreciation potential long term.
After rehab, expected rental profit after expenses (not including holding or maintenance cost) would be $600/month.
I am new to real estate investment and while the cash flow would be good, it is prohibitively far and an undesirable neighborhood. I believe I could potentially invest in two rental or rehab properties in my current area.
Would really appreciate any feedback or points of views the community has to offer.
