It would have to be a home just barely worth $375,000 or greater, and would hopefully cash flow.Or we could go for two single family homes, less expensive, and put $70,000 down on each. 

I, like many used to think “newbies” posted questions or asked for “help” to obtain the best advice from experienced investors, obtain guidance on strategic alternatives, or get a qualified opinion on whether the latest hot guru was worth the $40k price of admission.But, I was WRONG.No, none of those reasons are why newbies come to BP.They don’t want to find out that their “revelation” about how to invest has been tried about 10 million times - with limited successThey don’t want to learn that without capital, knowledge and experience their willingness to commit weekends is near uselessThey don’t want our opinion that they should skip trying to wholesale and spend some time learning as a licensed agentThey don’t want advice that has them taking classes at community colleges or learning real estate law, finance, or principles.So WHAT do they seek when they come to BPThey want comfort, encouragement. and to be told their thoughts are correct.

The repair costs will take multiple years to recoup and with the age of the property I'm concerned if it's even worth holding long term or get out while I can before I fall into a money pit and get stuck.  

The best thing you can do is contact an real estate agent / broker who can run some comps and get you an accurate ARV range so you can forecast things more precisely and have a better idea of what these types of properties are actually worth and currently being sold for.

This is a great place to learn and to connect with people so take advantage of all the great resources.Welcome aboard and best of luck investing!

Happy to connect on any current or future options!

I'm particularly passionate about midterm rentals.Outside of real estate, I enjoy working with special needs adults and education about memory loss prevention.Excited to learn and connect with you all!

So let's say I bought a property for 57k and it needs some good rehab, about 20k and it would be worth...let's say 140k.

There's a few similar companies but you should also consider looking into LoftyAi as well.I haven't invested my money into any of these companies but figured it's worth it for you to consider other alternatives.  

But yeah, not worth it in my opinion, I'd stay out of it and find a place to rent or buy that isn't on the verge of a sale or potential lawsuit.