If you can hold on till first part of January the showings and everything else should pickup.This would be my action items: 1. hire a new agent that can sell the place, and get you numbers are rent and selling and sell the place. 2. be honest on the numbers you can get on an ARV so that you can sell it 3. start to get the conversation started with a couple lenders on what these numbers on refi would look like for you and this property 4. my suggestion would be to refi/rent before selling at a loss because if numbers work you can hold for a couple years then sell, but this is dependent on your cash position and liquidity of your situation. 

All cash costs, and negative CF is a loss, must be recovered before you can make a profit. 

The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Homestead versus Non-Homestead Millage RatesCounties & cities in Michigan are allowed to set their own millage rates, with one restriction – a primary residence (Homestead) is exempt from up to 18 mills of school taxes on their Homestead property.

I am only familiar with Texas and while there is sometimes limited flexibility it’s basically 100% due at sale.  

Saving 100k a year comfortably can give you some good options...IMO paying off your mortgage seems to limit you more

Are you setting a one person per room limit? 

Are there infrastructure limitations, i.e. main sewer can't support 100 new townhomes feeding into it?  

Maybe even failure to take full advantage of an opportunity, resulting in a loss of potential profit or benefit.

Limiting issues and liability is the goal.

Compare that to Vegas, where rules can be restrictive and condo-hotels often come with sky-high fees or limits on how you can use your property.