If they want to give you a horrible lease with terms above then would pass.

If it’s a horrible performing rental you give the government $30k and buy a better rental and choose better next time.

This is just another example of why cashflow is a horrible metric for real estate.

Frankly, the government is horrible at assessing value. 

And yes , we understand about next year being a horrible year for taxable income for that particular property .

You need practice to become an expert in any field, and honestly, your first 20 calls are going to be horrible but step by step you're going to feel better and more confident in your ability to perform.

First off, the entire deal you outlined, never was legal from the start, so this whole thing began horribly and missing due diligence phase from start.

It was an absolute dump, horrible tenants and in terrible shape, but literally built right on the beach access, 27 steps to the beach, and on the best surfing spot on the island.

Gutted the inside, repaired the horrible framing and put it back together with new plumbing, wiring, hvac, spray foam insulation, etc.

@Michael Ansley It's a horrible idea.