The benefits to the seller including dumping a money pit that no one can get financing on, dumping a property that has a nasty lien or judgment against it, selling for more than the property is worth, dumping a property that is contested in probate, things like that.

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage.

It's worth it. 

I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.

Sometimes I have trouble remembering what day of the week it is!  

But remember, it's not about the deal, it's about the people.

We also have a second STR that runs smoothly, so this one feels like more effort than it's worth right now.I don’t want to sell since it’s a great property in a good area and fits well in our long-term portfolio.

Remember that disclosure laws vary greatly by state, with roughly 50% of states operating under Caveat Emptor...which means no disclosure at all.

In general tenants with a credit score worth preserving pay all that is owed.

I'm psyched to put a significant amount of my net worth on the line, in fact.