rehab house is in a bad area

[Dave Neeley]

So now that I have had this rehab for a while now. I have sunk at total cost including purchase price of $30,000 into it. It is looking like it will cost another $ 30,000 for a total of $60,000 to get it finished. Properties around it are going for $40,000. When the house is done I should be able to rent the house between $550-$650 per month. I have an annuity with $30,000 currently getting only 2% return. I can pull the money out of the annuity with some hefty fines. I might be able to sell the house as is which is completely gutted for $5,000. Should I cut my losses? Or stay the course and get my ROI in 14-15 years?