Calculate how much more in interest, lost profits, etc it will cost you to have this “blip” on your credit report.  

I'm trying to make it so I'm on the deed/title and not the mortgage.I know the income side would be effected with the dti I was just wanting the debt side not to be.

The parties will jointly appoint an acceptable mediator and will share equally in the cost of such mediation.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

Mailing/emailing a notice to "start the clock" doesn't cost much and should be done to NOT lose time if tenant doesn't pay.

I do not think it would cost too much to tone it down howeverI got a $10k quote (minus fees) from an interior decorator recently to redesign.

That means there is not really an effect on the debt to income ratio neither positive (income) or negative (loss) but rather simply making that payment  non issue. 

Also have less short higher level overview video: VIDEO: STEP-BY-STEP GUIDE TO FLORIDA EVICTIONSJoin the conversation here to share experiences, ask questions, and explore best practices for managing Florida evictions effectively.

Then you subtract your expenses: (1) Fixed cost: property tax, STR insurance, utilities, landscaping, etc

My CPA isn't well versed in 1031 exchanges and I want to know the effect of transferring title back to our names from a tax perspective.