This would increase the property’s value to about $608,000, and you could look at an 80% loan-to-value refinance, which should give you enough to cover most, if not all, of the remaining balance.This structure allows you to minimize upfront costs and take advantage of property appreciation over time.

That motivates them to report leaks, running toilets, or other issues.

Also I would look for listings hitting the 30 day or 60-day mark for motivated sellers. 

The primary motivators in retaining it and dipping our toes into the rental space are: 2.50% APR and sufficient margin to cover maintenance/capex/vacancy based on "recommended percentages of gross rent."

This could be done through a "subject-to" deal, where the buyer takes over payments on your existing mortgage while you provide financing for the remaining balance.

National vacancy rates have remained flat in the first half of 2024, following a 90-basis-point increase last year, with major metro areas showing particular resilience.

This can result in increased depreciation deductions in the early years of ownership.Partial Disposition: When a component of a property is replaced or disposed of, you can take a partial disposition deduction for the remaining undepreciated basis of that component.

From what I've been able to lurk around and find out, apparently the owner has moved to Ecuador and very motivated. 

I am also curious to know what the motivation is but, Yes.

I totally get wanting your time back with the family—it's a huge motivator for many of us.