Get solid current FMV and ARV numbers, and offer the seller 3 scenarios, in broad strokes.  

Different strokes for different folks!

Different strokes for different folks I suppose.

If you are only allowed to deduct your original purchase price of $140k but you are paying Mortgage Interest on a $1 Million Mortgage..... there is no way you can justify keeping this property because you will take an otherwise positive cashflow property and convert it to a hugely negative cashflow with the stroke of a pen.I suspect this is a very common scenario because, like you, many people refi'd their house when the values all went up and the interest rates went down.However, we'll see what happens.

that is one key  many of these portal simply wont take first timers.If you can stroke a check then what the heck is 5% going to do for you... put the money down do the deal and move on..

I have seen many many people with properties but no true equity .10 or 20% equity in a rental in a non appreciating market is NO equity.. sales costs and such would eat most of that up.. so really its only cash flow.. that is spendable.. just different strokes right..

Different strokes for different folks.

He said it wouldn’t leave brush strokes and it’s a great paint.

I have had a couple of late cancellations that I just let go but I spoke directly with the guests and they both had good reasons (death and illness).I offered both of them rebooking at a later day.The illness was a major stroke and they could no longer navigate the stairs at that time. 

Turn key usually denotes fully renovated property ready to be put into service. pretty tough to buy the home renovate and crate a profit for those doing it all for 30k.. something has to give.either the home was bought for nothing and there fore is in the worse of the worse neighborhoods.. or there is no major reno going on and cap ex will kill you.. use the money as a down stroke and buy something at 100k that actually is renovated and tenants actually pay.