Taking over my father's business
My father has been working as a handyman my entire life where he has even invested in some properties, however, he was hit hard in 08 during the real estate crash and has never really recovered from it. I am now conducting research and want to take over my dad's business where the main focus is real estate investment. I am not sure what to do with the properties he still owns in Dayton, OH. The two houses are C properties and and the rest of the neighborhood - to be more specific the street- is selling between $30k-$54k. The most recent home with the same features (SFH, 3 beds and 1 bath, 1008 sqft) sold in that area about a year ago for $33K. It does not appear to be an emerging neighborhood nor receives a lot of traffic. I am not sure if I should rehab to sell or continue to use it as a rental property where my dad is still making $1200 a month split between the two properties. Both properties are paid in full with no mortgage left over. Any suggestions would help tremendously! Thank you.