Even if a state has "criteria" for abandonment to me it makes sense to go to confirm and have possession awarded to eliminate what could be a fairly substantial risk.

If tenant Vacated you can NOT evict them unless they left "substantial presence" behind such as personal items, clothes etc.

In other marketplaces where home values are substantially lower and cash flow is higher, you can put that $1M towards buying multiple cash flowing properties, or even become a stakeholder of a larger apartment complex (also known as syndication). 

Have substantial IRA assets to work with, want to learn more about SDIRA RE investing and leverage.

It unlikely calls for a closing/sale without substantial completion, and the bank shouldn't have an issue with funding with a typical "punch list",  perhaps holding back a few grand.  

That would be a substantial cash out if you sell.

When the HOA fees go up we'll use the opportunity to increase rents on units that are now substantially below market.

@Anna Watkins @Steven Hamilton IIThere is case law out there to support a long-term hold being classified as a flip if it is substantially improved prior to re-sale.I'd want to understand how much of your time will be dedicated to this reno, how much income it generate compared to all of your other sources of income, and how many other flips you have done or will do in the future.If it's a one off reno, then you'll most likely be fine.

I have often thought substantial price changes should be considered a new offer.

However, the benefit of markets like Oakland is that the financial barrier to entry is substantially lower.