Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

About the same as if you rent it, less costs.

The buyer agreed to cover the cost of the new appraisal, which came in significantly above the purchase price.

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

After my P.M. costs I collect $940 or so/month. 

A quick web search shows it can cost upwards of $25,000.I'd say that if the flea-bag isn't a service dog now, it probably never will be.

Find one that can be custom to your needs, has flexible pricing, no long-term, high-cost memberships, and excellent customer services to determine how to best market to your leads.If you would like a referral code or more information please let me know :)

If you are going to do a HELOC then you must understand the cost of using those funds.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

So an identical neighborhood (income, crime, school quality, etc.) can cost you as much as a $100k less on the South side simply because your neighbors are brown or black as opposed to white.this right here is the gem advice.