Posted by DJ on July 26, 2001 at 18:50:32:
Depends on whether or not you want to get involved with the rehab. If you are not a handyman or know nothing about renovations, I would flip the house quick, get what you can out of it, and reinvest in another property. Otherwise you may end up with more in it than it will appraise for. Remember, 2 houses, side by side, identical in every way will not appraise for the exact same dollar amount! If you want to get into the landlord business, keep it. You could make half your investment back in a year at a 1000 bucks a month! DJ