The quick payday of the 40K seems rewarding looking at what you have invested, but I am a big fan of the buy and hold game when it comes to the long term rewards.

I think the numbers look good. 9k down 20% cash on cash, and it sounds like instant equity.....and only 3% interest on a 30 year?!

For instant job replacement, you need to focus in big apartment.Multiple Single family is great stable retirement formula.

It might appraise at $350ish so we should have instant equity.

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They're appreciation plays (dangerous, these days), and the buyer's willing to take a monthly hit in exchange for a big payday later.The "2% rule" Matt aludes to is equal to a GRM of 4.16.

I think it would a good flip as an option and considering the price and having instant equity it sounds like a win-win situation OR I maybe I can rent it out if I do the lease-to-own and charge $500-600 more than I'm paying in rent now.

I watch numerous property TV shows (such as the property brothers), or that one show where they buy a house via auction and all they're allowed to do is look at it from the outside, make the decision to bid, and instantly they can make $60,000 just by buying it or by a real downer where they have to fix a bunch of stuff before they sell again....

Voila, instant AC.Measure the window opening before buying a window AC. 

Not a bad pay day if the place is rented for that if agreed lol.