Might be worth considering in areas closer to central san diego for more options especially if you want to be around $1M range.

Quote from @Jonathan Greene: I have been seeing this a lot lately: people who hold on to underperforming properties because they add to their door count or to their self-worth as real estate investors.

Strategic negotiations secured the property at $170,000, positioning us for a quick and lucrative resale in a thriving market.

The benefits to the seller including dumping a money pit that no one can get financing on, dumping a property that has a nasty lien or judgment against it, selling for more than the property is worth, dumping a property that is contested in probate, things like that.

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage.

. $10k in debt does not seem like it is worth filing bankruptcy as you also will have the filing fees to file bk and if you use an attorney it could be another $5k, To me if you can save $10,000 a year then start saving and pay off that debt, as filing bk will hurt your credit wehere paying off these debts will improve your credit.

It's worth it. 

I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.

I'm psyched to put a significant amount of my net worth on the line, in fact. 

We also have a second STR that runs smoothly, so this one feels like more effort than it's worth right now.I don’t want to sell since it’s a great property in a good area and fits well in our long-term portfolio.