@Samuel George all good points from the comments above.I doubt the issues can be fixed for under $15k.In addition, it sounds like an older home and that means rougher area [most of the time] - are you sure this can be retail flipped?

thank you John and Bill for the comments and advice.

I will second the appraisal comment.

If anything else is needed, please leave a comment and I'll respond.RegardsZahoor

Thank you for the comments.  

Because of this I would calculate as $1,500 per month times 12 multiplied by .5 divided by a 10% cap rate or $90,000.This creates a value of $302,000.Please heed Christopher's comments. 

Pick out your favorite and comment on why it is such or add to the list!

Pick out your favorite and comment on why it is such or add to the list!

I reiterate the comment to utilize the podcasts and other information here.

Thanks for all the kind comments.