Acquiring Bradenton SFR via quitclaim - what would y'all do?
Hey everyone, as of next week I will take ownership of a SFR in Bradenton. It's a 3b/1.5ba/816sqft home located by Norma Lloyd park in the Eastern part of town. Currently rented for $1000/month, the lease expires at the end of April. As I see it, my choices are A) keep the house and cash out via HELOC or refi or B) sell it immediately. Having taken over this deal from California (I was initially a passive investor) I don't have a network in place in Florida to help me best ascertain my best avenue of disposition. There has likely been some deferred maintenance (roof, siding) that will need to be taken in to consideration and I'm having a little trouble trying to pin down the market value - both current and ARV. Without a BPO/appraisal and an inspection/contractor bid I've little data with which to run any calculations.
Also, since the lease expires at the end of April, there might already be an extension in place that could preclude me from doing any reno work. I assume I'll have to have my attorney contact the local property management team in order to facilitate the change in ownership from their perspective. Not knowing anything about them either, I may have to change PMs if we aren't a fit.
Do any of you Florida investors, agents, PMs, etc. have any input or references to those who might be able to help? Of course, I'm not looking for a freebie and am committed to making everything mutually beneficial. I'm certainly not opposed to establishing lasting connections that could potentially lead to more deals (flips/SFR/MFR) down the road. This is an unplanned market for me but since I'm already in it, why not look to expand?
Thanks everyone!