However, it has taken a long time to resolve, and ultimately, we both decided it was best to let the contract go.

Some adapted & survived though.It was easy to predict the same thing happening with the STR market, especially with the short-term COVID craziness.It was crazy seeing investors bidding up property prices based upon STR projected income, NOT LTR income!

Most of them are rated to survive in double digits, but when you to singles and negative it gets dicey real quick.   

As far as the other property, my ultimate desire is to build a duplex for rent. 

Start with BiggerPockets Ultimate Beginners Guide (free).

Start with BiggerPockets Ultimate Beginners Guide (free).

You won't survive.

3 Steps To Take Immediate Action:1) Set small, short-term goals (establishing a one-year, three-year, five-year goal has helped me tremendously)2) Seek help from people smarter than you (I am never shy to ask questions, even the stupidest ones)3) You grow through what you go through (We will make mistakes along the way and that is ultimately what will help us become better investors)

Ultimately, the only rental that went to a visiting nurse was for 2 months at half what I normally charge.

My point is it's part of our wiring to be suspicious, it's a survival mechanism and that's good.