Eat the holding costs (surely they are lower than paying for more work to get done) then put the lipstick on the pig and get out from under it How much less was the offer than what you were willing to take?

Maybe the area you're in is a 'pig with lipstick'.That would be my recommendation. 

I really enjoy finding undervalued, under-rented, class C properties in college towns.  1031 money can’t be used for repairs and maintenance, but a little bit of inexpensive lipstick in the form of paint and flooring can quickly give you the returns to get the big stuff done.  

Buyers perceive this as a lipstick rehab and will question how you handled repairs, major components like HVAC systems, etc... 

Im not sure what your market is like but here, everyone still wants a lipstick flip.

You may be limited to facelift / lipstick repair items as opposed to knocking out walls, ripping electrical and plumbing etc.

Nothing adds more value than a lipstick paint, flooring and fixtures rehab which has relatively low risk if you have anyone with a brain doing it.

@Chase YokoyamaHi Chase.I started off doing lipstick flips (painting and minor repairs) on small condominium apartments in Greek apartment buildings.

Also, if a buyer comes in down the road, they may want to know that permits were pulled and lipstick wasn't thrown on a pig.

Find a pig, put on lipstick and move up one step at a time to do additions and full renovations.