Help A Newbie Out! FixnFlip on market but $ reserves almost gone

[Ryan E.]

I "finished" my first fix n' flip and got it on the market a couple weeks ago (type in Liverpool Drive Charleston SC in Zillow to see photos). The project went about $20k over budget and 3 months behind schedule. Have had about a dozen showings but no offers. Now I'm running out of cash to carry the property. What are my options?

Several ideas I've come up with are to 1) refinance and rent it out. The house has about 100k of equity now. The problem is I'd need a loan with DSCR of about 1. My cash flow would be seriously weak. 2) refinance and Airbnb/HomeAway. I think this would be better cashflow, but more risky. Same issue with lending standards. 3) Cut price aggressively and install privacy fence (see below). The problem here is I lose $20k - $30k on the deal and I'm already dangerously thin on cash to pay holding costs.

Note: There's several potential issues with the house that I haven't addressed. 1) The neighbor's yard is hideous, filled with pool equipment and junk. I'm getting quotes on a privacy fence to try to mitigate that. I think the fence would cost about the same as paying to haul his junk away.  2) The roof is 15 years old. No leaks or damage, but it's lifespan is probably 20 years. 3) HVAC unit is also very old. It's a beast of a Trane and works well, but it's really old. 

Any other ideas or advice? Thanks!

[Caleb Heimsoth]

@Ryan E.is it 2541 Liverpool dr? If so it looks pretty good but only been on the market 3 weeks. Probably need to drop price soon.

@Russell Brazil any tips ?