Is this deal too good to be true?
I found an off market property in the Decatur township area that needs full rehab but has apparently good bones. Asking price? 15k! Apparently the owner is extremely desperate to sell. Electrical lines were cut. Turns out there was a nasty divorce. Neighborhood scout ranked it a fairly low crime area with acceptable schools. Quick Zestimate shows 70k for its value and similar homes around it seem to say the same thing. The tax assessor has the home valued at 30k. Rents going at 750 a month. If I'm being conservative the rehabs will cost 35k. Is this too good to be true?