Need advice on buying these properties
I have been wholesaling and this seller wants to sell five properties to me for $1 each.
The seller wants $1 each and I just am responsible for taxes owed on the property.
$40,000+ in taxes owed on property #1
$40,000+ in taxes owed on property #2
$20,000 in taxes owed on property #3
$2,000 owed in taxes on property
#4 not sure on property #5
Seller also tells me I should buy and hold and rent it out.
The seller says flipping it is not a good idea because the properties are in a bad market which is Dayton, Ohio.
I would like to buy and hold but I would have to find funding to pay back taxes and also renovate the properties.
Do you think buying and holding is a good idea? I’m calling Montgomery county to discuss payment plans on the back taxes.
If I own these properties I’ll have five properties under my belt.
On the other hand, I could wholesale the properties for a quick profit.
What would you do if you were me?
Thanks for reading and always replying bro.