BRRR deal in new market
I'm purchasing a 2 story house in Pottsville, PA for $29K cash. It needs roughly $5K in work (paint throughout and a new subfloor in the kitchen) It's a solid brick house in a decent area of Pottsville. The house should rent for $800/mo. The utilities paid by me will be sewer/water/trash. The costs are $42, $52, and $17 per month. Insurance is $50/mo and the taxes are $60/mo. I've been told that with the $5K of added value it should appraise somewhere between $50K-$60K. I am an out of state investor so I'm still getting quotes on management fees. Any thoughts on the deal would be appreciated.