If you are concerned it will be too hard to find a renter, lower the price and rent it for three months, then place a new tenant at the higher rate after winter.

In your case, it sounds like a similar story.. you identified a property with potential, tackled the structural work, and brought it back to life in a way that justifies a higher price.

I would think that participating in a sub to deal as a principle poses an even higher risk.

Turnkey companies sell these properties to out of state investors at substantially higher than market price prices.

The higher interest rates make it that much harder. 

The income is much higher but it does come with a more management.

., and in your analysis account for slightly higher PM fees.  

Additionally, don’t overlook the opportunity cost of pulling money from your 401k—those funds could have been compounding in the market.I’d also suggest stress testing your ROI by running scenarios with higher expenses or lower rents to see how resilient the investment is.

Higher property taxes compound the expense for buyers, making affordability harder to achieve.

I clean it up a little and sell it for more and a higher interest rate.