Good or Bad deal?

[John Weir]

I recently found a 2 bed/2 bath townhome for sale in my city Greenwood, SC. Not the best market, however the townhome is listed at $55,000. I feel like I can get the home for at least $50,000, if not cheaper. The same style and size townhome down the street just rented for $750 a month. The townhome needs new carpet and probably new paint and the yard cleaned up, all stuff I can do myself or with little help. I'm trying to figure out if I should jump on this deal or not? I have little money to put down to a flip I am currently doing so I wouldn't be able to put much money down, however, I still think its good but would like some input from others who might have done this same type deal.