Should I sell or hold?

[Ricky Priester]

I have a rental property question.  I have a property that I owe 126k on, it is rented but the renter has basically trashed it.   It is a 3 bed 1 bath 1300 sq ft.  I am getting $950 monthly but I owe $839, with escrow.  It would cost me approximately 125-150k to renovate and get top dollar.  That would be $276k to ask for a price of $400-420k minus realtor fees.  Netting around 100-115k.  I also have an offer for $205k right now to walk away, netting me about 79k. 

What do I do?    

Hold the property?

Try to fix it up to sell and make 115k?

Sell now to make 79K?