Also, I have very little capital at the moment but I anticipate being able to stash some cash away in the time that I'm researching (I have no debt other than the two houses I own; one is rented and I plan to rent the other when I move out of the US). 

I anticipated putting about $4000-$5000 into it to address a few safety issues, make a few repairs and get it rent ready.

Maybe the buyer has to wait until the anticipated (now canceled) closing date passes before relisting her house?

But I cant imagine what could come up on what I consider a paint job that he couldnt anticipate.

Comps on the home are between 210-220k and if the home is repaired it can sell on the market for $240k my problem is the owner who anticipated to get something at closing won’t get anything which has held up the closing because he wants to walk away with something.

Historical is the absorption rate that has taken place.Forecast is a prediction based on the historical absorption and current/anticipated economic trends.Absorption rate for a year would be calculated  - number of total sales in a year divided by twelve = monthly absorption rate in prior year (average for the year).Current months of housing supply is calculated - number of active listings divided by the monthly absorption rate - total number of months the current supply should lastSo, 120 sales in the prior year gives you a monthly absorption rate of 10 (120/12).30 active listings would give you a three month supply (30/10).A three month supply in most markets would be considered the borderline of balanced and shortage.

I have a small amount of cash flow from the property, but with the new developments going, we anticipate to gain another $50,000 in worth over the next few years.My big question now is what I should do next.

I use more comprehensive calculations that give me a total cost as well as total profits.I anticipate ALL profits and Expenses over a 10 year holding period and then I pretend to sell the Investment.

The cost to bring both gas and electric to the property ended up costing about $12,000 more than anticipated.

We'll be figuring it out this year but as we start sending more mail it's a problem I'm already anticipating and don't want to get stuck in the problem like I did the last year or two.Best,  JTM