Pay more for better property or settle for property with issues
I am looking for 3/2 SFH in the range of $160-200k. I am noticing however the rent prices are very similar between both ends of the spectrum. The $200k house has cleaner finishes and would rent easier. However I am looking for a deal. I found a house sitting on the market it is updated but has the following issues:
1. Master bedroom is smaller than the other rooms
2. Master bathroom is small
3. No bathtub in house
4. House had foundation repair in 2018 with 10 year warranty (living room floors are a little wobbly)
5. Lot next door is empty with tall grass (potential rodents and future construction)
6. Sellers have also listed property for rent for $1650 and have had trouble renting it
Based on these issues, is it worth it still to potentially save $30k versus a similar type property given the rents are similar. Or does this sound like a disaster waiting to happen? Any advice would be greatly appreciated. The house I am looking at is 3226 San Paula Ave
Dallas, TX 75228
United States.
If anyone would like to look it up and provide feedback. Again, I am looking to potentially acquire this property around $160k as a rental investment and trying to determine even at that price if it is worth it given the minor deficiencies! Thanks