I found this property in my home town. Its a FSBO. He is selling the property for $153000. He bought it for $145000. The house was built back in 2001.The average comp for this area is $115000. It is a 3x3, 2 level, car garage house. It is also rented. If i was to buy this house I will have to wait 30 plus days for him to give his tenants notice and then to get a buyer to purchase it. the house also has been updated with alot of fixtures in it, such as granite counter tops, new railings, sheet rock, fire place etc, which came up to $15000 in repairs. So there is be very minor repairs to be done when it is vacant.
Do you think I can profit from this house if i do get it under contract?