Your looking like a T-Bone steak my friend!  

Good bones and decently maintained, just out dated.

This one is an old home with great bones. 

I fired 7 property managers in 5 years trying to find one that was honest, competent, and priced reasonably enough to leave me some meat on the bone between the charges above and below the table.

Good news was, the bone of the house was good.

If your numbers are accurate then neither ... the margins are too thin either way ... maybe as a move in as your primary and house hack it, but even then, not enough meat on the bone to take the risk and effort for me.

Many wholesalers are already taking considerable amount of meat off of the bone, when someone else comes along and adds another few thousand dollars to the deal and someone else comes along and adds even more... it's no longer a deal.

In terms of doing things while waiting....anything that doenst require a permit, start now. ripping up carpets, tearing off loose paint, throwing out old crap. makes it a lot easier for your contractors when they are given clean bones to start with

Still plenty of meat on the bone there.

Then you net would be $225K and your profit would be only $25K.If doing this here are my recommendations:- Buy homes with good bones where future buyers will see it as a quality home.