I purchased a home to BRRR in Cuyahoga County and I need some advice

[Christian Maher]

Hello Everyone,

I'm looking for some advice here, I bought a home in Cuyahoga County late last year for 64k through a tax lien sale. It's 3 bedrooms and 1 bathroom. So far we have dumped 70K not including misc fees like insurance, utilities and other stuff.  So the house wound up needing the drywall, kitchen, bathroom, roof to the garage, Plumbing, Gas and other stuff done.  I have been told by several investors that I was overcharged but I guess at this point it is what it is since I have already almost finished everything. I'm completely fed up and I am trying to figure out if it's worth keeping to rent out or if I should just cut my losses and sell it.  It's still only 3 bedrooms and 1 bathroom and I am in the hole about 140k and fair market value is about $145K-50K.  I welcome all thoughts regarding the situation. 

[James Wise]

Quote from @Christian Maher:

Hello Everyone,

I'm looking for some advice here, I bought a home in Cuyahoga County late last year for 64k through a tax lien sale. It's 3 bedrooms and 1 bathroom. So far we have dumped 70K not including misc fees like insurance, utilities and other stuff.  So the house wound up needing the drywall, kitchen, bathroom, roof to the garage, Plumbing, Gas and other stuff done.  I have been told by several investors that I was overcharged but I guess at this point it is what it is since I have already almost finished everything. I'm completely fed up and I am trying to figure out if it's worth keeping to rent out or if I should just cut my losses and sell it.  It's still only 3 bedrooms and 1 bathroom and I am in the hole about 140k and fair market value is about $145K-50K.  I welcome all thoughts regarding the situation. 

 Run the numbers, does it make money as a rental? Do you want to be a landlord? If yes and yes, keep it. If no, sell it. You have a $145k-$150k house that you paid $140k for, this isn't rocket science. What do you wanna do?