I think it's a bad deal.

Anyone have bad experiences with a move like this?  

Of course, the more details you share about the property the better, so here's a generic outline to make sure we get all the necessary info to evaluate what to expect:Property Type: (Condo, Single Family House, Multifamily Property)Total Doors:Purchase Price:Year Bought: (Buying at bottom of market obviously makes for more cashflow today)Financing: (Cash purchase, financed with percentage down, lease option, etc.)How You Found Property: (MLS, Off-market, Wholesaler, Foreclosure, REO, etc.)Property & Neighborhood Rating: (A-F, 1 to 10, neighborhood quality and condition of property)Net Cashflow Per Door:Cap Rate, CoC, Appreciation, Etc.: (Any other metrics or ROI figures you think are important to the deal)You can either answer in this format or write a paragraph or two including all the details.

I was going to suggest doing a cash out refinance, but that's bad idea if you're not cash flowing now. 

Listing would include high quality exterior & interior renderings, floor plans, description of finishes, plus something like "still time to choose your own counter tops, vanities, colors etc... home under construction and finished Sept."

Periodic bad news from Northern states where buyers are put into wrecks of houses and are 100% responsibile to fix all the problems. 

One bad experience with a tenant should not dissuade her from renting.

Is it a bad idea to send direct mail to divorce lawyers asking if they have clients that want to sell their homes during their divorce?

@Michael DobsonThere is a saying for this:  "Great initiative, bad judgment." 

I haven't personally tried to the last two so there are probably plenty of bad examples not to try them, but they should at least minimize initial investment costs if done right.