Property eval help for first time flipper
I just had a house come across my plate and I'm a first time investor. It is on the market for 59,500 and needs some work. I haven't seen it yet in person, but the house next door was recently renovated and sold for 169,900. Same sq footage, same year, same bed and bath. When I run the numbers, that gives me a 40k rehab budget and still neting 41k in profit... I feel like I'm missing something... any suggestions?