@Marc Woodward...burn it down...just sayin'alternatively, get it repaired enough to rent to a tenant that covers your mortgage payment....sit on it an do repairs as you can...should be a sweet equity position in 10-years!

That is short and sweet.  

With the location and condition of the property it's a really sweet deal at my price - but with the current rent the net cap rate drops below 9%, where I typically shoot for 12-15% in this sort of area.  

My advice would be to keep them short and sweet and don't give them too much information.

You could then either do this deal yourself, if you have the down payment and repair money, or wholesale this sweet deal to another investor who does.

That is a sweet route. 

I've tried to wholesale condos a couple of times, and the feedback I've always gotten was that ~$20K was the sweet spot for condos, just because that allows you some flexibility with debt service if you're financing.

IMHO the sweet spot in the single family market is the four bedroom, and there is certainly a level of "frantic" in prospective renters right now.  

I'm a FT investor in the Pittsburgh market.Short and sweet.

I've heard that this is the "sweet spot" as anything 10% or over sounds a little scammish, but 9% is still a really good rate, especially for people who have their money in CD's and what not.