Looking for guidance - rent or sell

[Jeff Miller]

Hello!

I bought a property in South Florida at the peak in May. It turned out it has polybutylene pipes among other less serious problems. The total cost of fixing everything will be about $50K. I have already invested about $15K to take care of some urgent issues.

If I sell now I would lose about $50K in commissions and lower selling price.

 I have read horror stories of how it took some people over 12 months to fix polybutylene pipes due to a combination of bad contractors and delays in getting permits and inspections. I am worried that if I take on the task of repairing it may take longer than the 2-3 months I can afford.

A third alternative is not to fix the polybutylene pipes and just to rent as is - but I am worried that it could lead to a big problem with the renter and me later.

Does anyone have experience dealing with these types of issues? Any advice regarding this will be greatly appreciated.

Best,

Jeff