Manufactured home tear down? Bad idea?
Good Afternoon y'all! Samantha here from Austin TX making her first post!
I am brand new to this industry and I am beyond excited to start! I have found this property that is a complete tear down! This is what the seller has named problematic with the property...
"Cost of Repair 2x what move in ready homes will sell for. Not able to enter, foundation issues, exterior wall caving in, roof seperating from the home, walls and celings could fall in, floors caving in."
$6,750 asking price but the only way I would take this is by negotiating this down several thousand if possible because this is a manufactured home, that can't even be listed because of its conditions. This guy also purchased this home with 19 other homes in different states in a bundle package type deal. The property's is 6,229 sq ft! Is this even worth pursuing and turning into a rental property? Can a manufactured home with this many problems even be fix and flipped? Other manufactured homes in the area go for 50K-150K and it's about 30 minute drive to the beach!
I would greatly appreciate any advice from anyone! Thank you!