Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

Combine that with some government austerity and the debt issue improves.

At the end of the day, losing $10k is really not a lot in the grand scheme of real estate investing, and given the seeming high volatility of this market ($275k to $220k, presumably in a matter of months), and the generally high monthly cost of HML, I would get out quickly and think of the loss as the cost of education.At least in my area (Cincinnati, OH) I don't see the market dramatically improving even as we get into the spring buying season, and, honestly, I only see mortgage rates continuing to climb for the foreseeable future, taking more and more buyers out of the market.

The cash flow does improve with the hold .  

However, if you can enhance privacy and add standout features—like a hot tub or a sauna barrel—it could justify higher rates and improve guest experience.

Congratulations @Krissi Miramontes, it's great to see someone helping improve Fair Oaks!

Should I wait for Spring for greater inventory, or for lower rates to see if cashflow improves?

It depends on the property.... is it value add where there's also a construction component or merely a management improvement opportunity?

Review your score and take necessary step to improve it if you are at 650 or below.  

Wish I had remodeled the space that is the dining room into an extra room to improve cashflow.