Does this sound like a good investment

[Felipe Munoz]

I recently started working with my brother, he has majority of the cash but works as a contractor leaving me to do the leg work. I have the opportunity to close on a deal next week I have a gut feeling that it's a good deal.

2 houses in two (not so great areas in town)

House #1 (3 bedroom 1 bath)

Asking Price $34K

Current tenants that are good screened and pay $700/month

This house is an older home may need repairs but none immediately. 

House #2 (2 bedroom 1 bath) on a large lot 

Asking Price $37

Older home as well it's a smaller 2 bedroom that may need about 1K to finish and make really nice, rehab is about 80% 

I think this can rent for $550-$650 / month

I can have both houses for $65K

Because they are older homes it will be hard to finance them or sell them. Rental income is great but would be loosing the cold hard cash... I have 83K available to invest and was thinking of going to the court house to purchase a foreclosure home rehab and flip. I know it's not that easy as you see on TLC but that was that was the plan until this deal came around.