Fully Rented Out Duplex BUT...

[Alan Izawa]

Original Listed Price $200k

Currently $179K

Current rent $2250

This property went under contract, but came back on the market. We obtained the inspection report and there are a lot of issues with some being structural. This property was built in 1900. Without making too long of a post, this property seems to be in a favorable area with potential growth over the next 3-5 years. Everything seems great except the condition of the property but currently it is fully rented out. 

I am a rookie investor just getting my feet wet. My question is, how do I go about calculating what my offer should be? 

Should I pivot and treat this more as a fix and flip? 

Should I walk away  with the thought of any cashflow I have will probably get wiped out with all the maintain and repairs required from such an old property?

Any advice and feedback is welcomed and appreciated. Thank you all!