Is This Rehab A Good Deal?
I purchased a 2/1 single family home for $6000. Yes it's dirt cheap. I'm putting around $7000 in repairs and updates including adding a 3rd bedroom in the basement. This will total $13k that I've paid in cash. Now a 3/1 single family home in an area that rents for $375 to $550 for a 3/1. I've advertised it for $550 then $495 but no serious inquires and as we know people don't move too much around the holidays. What would you charge for rent on this one?
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