This will give you an idea of the Class of neighborhood.

What really matters is how long you think you will have this loan. 

I’ve never had this specific issue but mistakes like this are pretty common. 

There is an incredible amount of points to consider when weighing the options on something like this and honestly, I don't recommend it to very many people at all ....even seasoned tradesmen and investors.

Together, the property nets us roughly $1,400/month after expenses.Equity Split: My partner owns 60%, and I own 40%.I'm exploring ways to take out my equity without disrupting this deal, as I feel this isn't the best financial decision for me right now.

only one avenue to this and that is an equity partner that shares your dream. 

Hi @Joseph Goode I didn't see any responses on this so I wanted to see if anyone did get back to you via PM as I am interested in this topic as well.   

Everyone on this thread is correct. 

@Brian Fisher It sounds like this was a frozen pipe and not a pump issue. 

Quote from @Bruce Lynn: Quote from @Don Konipol: This is a story from my past that provides a perfect example as to why investing in tax liens at auction is so dangerous for any but the most experienced and knowledgable investorsGreat story....maybe not the exact same circumstances, but I see crazy stuff like this all the time.