So an interesting opportunity has come up.
A SFH near me with a little land and in need of a lot of TLC (mostly cosmetic from pics, maybe roof and chimney pointing as well) has been on the market for 66 days now. It is being sold as is and it requires a lot of superficial updates as far as I can tell. The price has dropped significantly since it first posted. Looks to being sold as part of an estate.
Original Post: $139,900
Reduced to: $109,900
Land: 1.6 acres
School zone: very good (I dont have kids but would like them someday and makes future re-sale easier)
4 beds
1.5 baths
Now, considering my current situation which has not changed much, should I consider this property? DTI<30% after this month. Student loans are <$16,000
Current rent: $780
Utilities: $130 (electric, water, sewage, internet)
Income: $53,750
Again, I would have to borrow from parents or 401k in order to afford it but I would put in the effort of fixing up the place myself as much as I can.