At this point in time, I have two buying opportunities that are two different strategies; buy and hold, versus renovate/fix and flip.

It‘s about the hours we put in educating ourselves about real estate investing versus watch tv.

We were debating between a multifamily and living in it versus upgrading to a bigger condo and investing out of state. 

Also need feedback regarding seller financing versus 203 FHA loan that will allow for extra $ to make the repairs and updates.

@David Ferreras First you'd need to determine whether you want/can be active versus passive investor.

We are considering staying in our current flip for two years.  We like to have a two year flip going along with other flip projects, to take advantage of the two year rule as often as we can.  The more we fix this one...

Think of it from a maintenance perspective, cleaning, fixing, maintaining - one roof, one building, one plumbing/electric/water system versus multiple.

@Troy S.I would say it depends on your level of connections to businesses and expertise in dealing with different businesses (e.g. logistical/legal/practical issues leasing the space to a restaurant versus convenience store).

Howdy @Janice DelantesLet me try to answer your  initial question about the Asking price $48K versus the ARV $53K. 

@Josh CooperThis might not be true across the board but most turnkey properties aren’t usually in areas known for appreciationThey are many times in neighborhoods with a high percentage of renters versus homeowners .