Just the kind of deals I like. CHEAP. Are you inside a city or are you in the county. We have different section 8 offices for outside the Austin city limits that are handled by the county.
What is the rehab estimate? You also have the option of selling to a rehabber or even forming a partnership to get them rehabbed and rented. If you have no construction background you may want to flip or get a partner. I am assuming they need structural repairs and not just carpet and paint.
And they’re located adjacent to Interstate 75 in Macon, GA, which is the city. I thought about possibly attempting to have them rezoned commercial and put up a billboard which would get me a 100 year lease of $5,000 to $10,000 a year for the billboard. I could then sell the lease at a compromised offer to establish some capital. What do you think?
I would prefer to manage a billboard instead of a couple low income duplexes. Maybe you can do both. The $10K per year sounds a bit steep. I leased one here in Austin for $1600 per month plus paid for the art work etc. I am thinking $5000 may even be a bit high.