Making an offer this friday!

[Christopher McGuire]

I have been reading all that I can on this forum and all over the internet and you guys have some great info here! I would love to get some of your opinions on this. I am 23 years old and a senior in college. I have been looking for that "perfect" property for almost a year now and I finally found it...or so i think...this is where you help. This house is in the historic district in my town about a 10 minute walk from my college. It is 1500 square feet and has a guest house in the back...i will be in it for less that 55k. The house needs a paint job bad and a roof in the next 2-3 years. There is one spot in the floor that is a little soft so I think it might have some minor foundation problelms that i am getting checked tuesday. Here is the part that gets me excited.....The main house rents for 500 a month and the guest house rents for 350 a month! Thats 850 a month gross coming in with only a 300 monthly payment. A truly unbelieveable deal....the owner is moving out of the area and is trying to dump it. Also I think the house would be worth close to 75k after a new roof and paint job.....look forward to your thoughts.