The honest answer is to be on the safe side, the property you're referring to: GC524550 2811 SW ARCHER RD, #V-177, GAINESVILLE, FL 32608 in the Brandywine neighborhood is one of the condos that are not in a good financial situation.

The best ideas are the ones that make financial sense.One opinion...hope this helps (and that you're warm in this crazy weather we're having here in Florida).Best.

Distressed properties are real estate assets that are usually sold at a discount due to financial or physical distress.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

This approach will allow you to focus on the financial benefits rather than the day-to-day operational tasks.Additionally, consider how this rental income will contribute to your overall financial picture.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

My current agent suggested if it made sense financially, to do some rehab work to get the properties rent-ready, but I do not have the liquid funds to do so and sell these as-is.

They could self manage for several years, using the rental income, until the next phase of their retirement.If they have a decent amount of financial discipline, they may want to get a HELOC now before they build to get the most favorable rate.

Do you hold any financial advisor certifications?  

Since this opportunity came up, I've begun to take real estate more seriously as a path to financial freedom.