Unfortunately, as a newbie investor I paid a “property manager” about $12,000 to repair/rehab a single family home in low income area. He did not do repairs, took money, but that is another story.
Question: It will cost me about $12,000 for a legitimate company to fix & repair. Once done, can get about $550 month rent. Property rehabbed fmv = $12,000. Since scammmer property manager didn’t do repairs property, received violations in housing court which are pending. To demolish house will cost about $10,000. Need some objective advice.
Thanks.