Good or bad deal? House in Haines City, Florida (Orlando area)

[Sergey Perevalov]

Hi Everybody,

looking to get an advice. I got a house through an auction in Haines CIty, Florida (1117 Avenue H, Haines City, FL 33844) for $10K. It's a small 800 sq ft house but looks solid and it's made of masonry. 

But it turns out to be in a "questionable area" (my realtor did not even feel comfortable getting out of the car to take some pictures).

Original goal was to get it, rehab and rent it out, but I am not quite sure if i want to deal with rental properties in "war zones" - probably will be hard to rent, maintain etc.

But maybe if renting does not work out - is it possible to flip it? wholesale?

Would really like to get advice if it's worth dealing with and if people know exact area - would appreciate your thoughts about area. 

Any advice/feedback is appreciated. 

Thanks.

[John Rogers]

Don't think of it as a war zone... Think of it as an ethnic neighborhood. (at all costs, avoid "steering").

You got a good deal, the property doesn't seem that bad...

Suggestions:

When you rehab put a sign out front asking for a laborer from the neighborhood. They could be your security...

Do the rehab one of two ways...

If you are going to rent it, do it as section 8 housing

If you are going to sell it, sell it as a lease/option with a 12 month option period where the option deposit is non-refundable. That will insure that the tenant will take care of the property as they will eventually own it

Good luck...