I don't use padsplit (weekly rentals); I rent on long-term leases in B Class neighborhoods.

My sister-in-law has found a house in their neighborhood that has been vacant for years, and lo and behold, the owner has passed away and the heirs are looking to sell.

Our logical process:1) Use Neighborhood rankings to narrow down area of city you want to invest in2) Focus on getting to know that Neighborhood(s), so you know the good & bad streets, block-by-block.3) Be patient to acquire properties on good streets that meet your buying criteria.Our rankings are done with a "bell curve" approach.

Many realtors are not going to work in low value asset areas as those are generally rougher neighborhoods that are probably deemed to unsafe especially for a single women agent to be out there.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Community engagement: Homeowners have a greater financial stake in their neighborhoods and are more likely to invest in their local communities.

The market here offers a lot of potential.I highly recommend making a trip here to get a feel for the different neighborhoods and understand where the best opportunities lie.

In neighborhoods that won't attract high credit score tenants, I've found that a stable job history with a MINIMUM of 1 year at current or previous job to be the best indicator of a great tenant. 

When I looked at prices recently they look like they've gone up quite a bit but I know they vary a lot depending on the neighborhood. 

It's a small place so I'd guess it won't rent for enough to cover your expenses anyway so I'd probably sell, especially if the loss is small, it unless it's in a great neighborhood that you think will do well over time.