Relative new to RE investing. Got REO not sure if I should keep

I am in the north east. Housing price only dropped greatly in bad areas.  This house is in a so so area.  It was on market for over a year,listing started at 199,000.  The price I got is when listing dropped to 120,000. I won the bid for $125,000.

My problem is the house has very small bedrooms.(total 1247 sf, 3 bed 1.5 bath, built in 1934) Does it affect renting out?  I am thinking if I should withdraw.  Bedrooms are one 88 sf, two 110 sf. 

living room  250 sf, kitchen & ding are 120.  Neighborhood is quiet all house are around 1930s. Easy access to highway and public transportation.

Is small bedroon difficult to rent out? Thank you so much.

所有跟帖： 

• If not in a million dollar community, small bedroom is not an is -va_landlord- ♂ (0 bytes) () 05/05/2012 postreply 18:59:22

• so small bedroom not too difficult to rent out? House is old, I -newhandss- ♀ (0 bytes) () 05/05/2012 postreply 19:17:06

• not a problem. -va_landlord- ♂ (0 bytes) () 05/05/2012 postreply 19:20:21

• are you kiddin？这个大小蛮正常的。 -sweetptt- ♂ (0 bytes) () 05/05/2012 postreply 19:16:28

• Here apartments have bigger bedrooms but 3 bedroom apartmnet is -newhandss- ♀ (400 bytes) () 05/05/2012 postreply 19:32:15

• minimum is 70 sq ft -jy101- ♂ (0 bytes) () 05/05/2012 postreply 19:30:03

• Thanks Jy101. There is a big attic maybe I can finish it to expa -newhandss- ♀ (0 bytes) () 05/05/2012 postreply 19:36:03

• make sure window meet code. -jy101- ♂ (0 bytes) () 05/05/2012 postreply 19:53:51

• can you open up a wall to build a bigger bedroom -hmo- ♂ (0 bytes) () 05/06/2012 postreply 07:08:11

• thks for reply. If open wall, it willbe 2 bed. Can finish the at -newhandss- ♀ (0 bytes) () 05/06/2012 postreply 19:25:42