Another option would be working with private lenders to see if they're open to your idea should you need additional funding. 

Figure out how to fund the purchase.

In southern Florida I fund and profit / loss is 50/50.

While I can contribute some capital and sweat equity, I’ll need a partner to bring in additional funds to close the deal.Here’s where I could really use your advice:1.

But mostly keep in mind that any property you find the local landlords already know about and did not desire it.

Repairing to sell might recoup some costs, but given the market and your limited funds, selling “as-is” is likely the best option to minimize further losses.

I currently don’t have the financial ability to invest additional funds into it.

In addition lower rents will decrease the value of a property, not necessarily its appraised value, because no buyer will desire to pay retail for properties with reduced cash flow.

So, if you are not concerned about tenant screening, tenant application, lease signing, tenant payments, or being overbilled to the IRS for funds you did not receive, then RentRedi is the software for you!

While sophistication of your equity partners (private money lenders) will vary between residential and commercial, the principle of raising private capital is the same.You need to develop your own system which allows a constant stream of PML even when you don't need the funds and/or don't have an active deal under contract.For example; I raise private capital by offering free educational workshops for people with self-directed IRAs.