Need help with very cheap small town missouri SFH

[Henrietta M.]

1. I definitely need help analyzing's this deal! Here is the situation:

• 13,000 population in entire county of Missouri small town
• Owner is very motivated, says large lot is included, which house was built on
• 3/1-unfinished bsmt-yard-kitchen furnished
• rented consistently $375 monthly
• hard to find comps because town has only 3,000 ppl
• owner said bought it 10 yrs ago for $31,500 and is now asking $25,500...I got price down to $18,000

MY QUESTIONS:

1- How do I calculate sq footage and ARV Correctly? I believe I may have done it wrong 👎

2- How could I even get someone out there to inspect it? I should of had this done or at least planned out

3- Why was I CRAZY ENOUGH & UNPREPARED BUT still got a quitclaim deed and had her sign over interest?! I'm a wee bit WORRIED!

SUGGESTIONS??

[Sylvia B.]

Okay, northern MO. I don't know anything about that area at all.

Nothing about this deal makes sense. You gave the owner $10 and a promise to pay $18K and she deeded the property to you by quit claim? Why would either of you do that?