[Calc Review] Help me analyze this deal
This property is actually 2 homes on one parcel and is being offered at the Sheriff's Auction. I was driving by and saw the neighbor, so I stopped and talked to him. There is a 5/2 home which has been vacant for 3 years and the neighbor told me it was vacated due to bed bugs. It needs about $20k of work (from what I can tell as these auctions are sight unseen). The smaller home, which I believe is a 2/1 supposedly has squatters and they may be disabled veterans to boot.
Normally that's enough to run from, but I can't help but staring at these "back-to-back Grand slam" monthly cash flow numbers.
Anyone have experience with squatters and bed bugs?
I put my purchase and repairs in my acquisition loan since I use a HELOC to finance the entire thing (no cash needed!!). I am assuming $30k purchase and $20k repairs for each home.
This is my first post, so let me know what other info is relevant that I missed.
*This link comes directly from our calculators, based on information input by the member who posted.