Since the loan will not be paid off any time soon by solely making monthly payments, does it make any sense at all to continue renting only breaking even, or should I pull the trigger on the sale and take what I can get for it, even if it means taking a big loss from my purchase price in 2010, just to be done with the house?

You will want to do some research here and make sure that you are comfortable with the (albeit very low) risk of triggering the DOS clause that is in most mortgages. 

I've put a fair amount into deciding what I want to purchase over the last couple of years and have just recently gotten myself into a position to pull the trigger so by normal standards the offer would be insane, but feeling so aside the numbers have to make since. 

It took me a long to pull the trigger on it because I didn't want to deposit money and have it sit there.  

For the tankless system that I would need (I want an outdoor unit in order to re-claim as much closet space as possible inside) I have received 4 bids ranging from just a hair over 2k all the way to 3.5k.  

What COC returns are you trying to hit before you pull the trigger?

@David Roque, no I'm not in contract, just trying to do my research and due diligence before I pull any triggers.

Hi BP Community!  I'm very happy to be a part of BP.  I'm new to the BP forums and have been catching up on the Podcasts, which are awesome.  I'm 36 years old and just changed my career to real estate.  I am working a...

Ideally, I'm going to wait until it's more of a buyers market to try to find better deals, but for now $200/month is my trigger to go look at the property.

https://qz.com/1064061/house-flippers-triggered-th...