Flipping could take 1-2 years to have a track record and build a good nest egg, hardest part is starting and it's relying on the market condition.

View report*This link comes directly from our calculators, based on information input by the member who posted.So ive talked to the agent and i cant inspect the property because of hazardous conditions, it a forclosure.

We are also open to find a multi-family with a full basement unfinished or finished that we can transform to live in while we rent both apartments and live rent free for the next year allowing us to save a substantial amount of money.

@Joshua Bailey  how far below market are they for the condition of the unit? 

In inflated markets (a condition you can gauge by the increasing gap between asking/offer prices and the prices at which homes APPRAISE) profitability tends to shift away from buy-and-holding turn-key properties to favoring the rehab space of investing, flips and BRRRR. 

So old and fallen apart, there are a couple of occupants in the two buildings living off the government paycheck, but it's definitely not going to pass any minimum standard conditions if ever thought of section 8 ....

@Max Vishnev That's why Im still negotiating with seller, house is in great condition (still pending inspection for details of course) and great for a house hack and as you said long term buy and hold.

Good way to write off a trip as you go to check on condition of property etc! 

How does the condition of the home effect financing?

The property is in mostly good condition.