How can I make this deal the most PROFITABLE?
I Just got this 2/1 1300sqft single family home under contract, built in the 1940's with some updating and addition. Tax appraisal right at 74k, Comps with 300-400 less square footage coming in at 55k. There is a tenant currently in the home renting for $600 a month, which is very cheap for the area, average rents $750 and up. I have this property under contract for 48k, not the best spread by any means, but the question is, how can I make this deal the most profitable?