Thinking 1950's buy the style since it matches my late grandfathers place.My first thought is that I need an engineer to come visit to see if the building is salvageable.Lots are going from 18,000 to 32,000 in this neighborhoodComps for is area come back at the followingSqft $95.50Average selling price $62,500This is the UGLIEST cabin in the area.Here is the kickerMost of the houses near by are actually about 1800 plus sqft and comp for $210,000It will need the following:complete gut and remodel ($45,000)At least two dumpsters ($1000)The garage structure may not be stable?

Because my house is a complete remodel, I could potentially get up to 110K...So a potential 40K profit...Sweet.

Hi Kathryn,If the remodel was done without a permit then when you go to sell the property it's going to show on the records that it's a 2 BR.

I bought an REO in 2009, Complete gut/ remodel, to start my REI journey.

Very well done remodel of the upper unit (2bd 1bath) (vacant)Lower is the issue.

Just closed on a home I can remodel in about 4 weeks.  

I was in the middle of a bath remodel upstairs when the happened, so I hurried to get the bathroom usable, since the second was was in the basement. 

So great cash flow right now.The kitchen does need remodeled, so we would probably put some money into that if we kept it.Now the home according to Zillow is worth around $460k.  

The downside is that both houses have been vacant for at least 6 years (and possibly up to 10 years),  and need substantial work (roof, foundation, and potentially to the studs remodeling).

I did about $16,000 in improvements - paint, carpet, remodel kitchen, new AC etc.