Be sure to celebrate!

The reason Kiyosaki is controversial is because he challenges people's thinking.

We are flippers and recently got a hold of a waterfront 2.3 acres property with a 1964 house (bought in cash).The house was build by the original owner and the attic was transformed to the second floor, but not finished.The comps in the area are very controversial and the main question is: sell the house AS IS (gut out job) not investing another 100K OR keep it as a super rare commodity: renovate, take out a line of credit to continue flipping, and rent out long term.My first time seeking an advice so I really hope for your feedback.

Should I ditch them with cash for keys or celebrate that the property is already cash flowing?

Time for a celebration for sure. 

Over the years, actually decades, of this ongoing controversy some rules of thumb developed.

I’m not sure I subscribe to ROE over all, as I would like to have at least some paid off properties one day (I’m sure lots of BP folks find that controversial).

I have had a few, most recently a group of five 19 year-olds who celebrated a birthday and it was fine.

Where I am in Socal I do this for a living and I tell people you will generally spend between $50-100K depending on the specific site and potential controversy etc. 

You got one under your belt so celebrate then get back into the game.