Hello BP community,I have given termination of lease to end this month to a Sec 8 tenant who violated the lease with subleasing, damage, and failure to cure and repair damages est. $35,000.

If you have the means to hold the property, make the repairs to the foundation and wait for up swing in the market, I would try to hold it.  

Many projects go over budget due to unforeseen repairs or delays, and having a financial cushion is critical to staying on track.4.

I’ve gotten quotes ranging from $6,500-$12k to repair and waterproof the exterior walls, plus there's the added cost of repairing and repainting the inside walls.

If your lease includes this provision, I recommend issuing a lease violation notice for not allowing maintenance to enter and carry out essential repairs.  

Run the numbers, but if the 1960s home hasn't been maintained, you may have some expensive repairs coming up. 

When interest rates went up, I was having to leave too much capital in deals in my target market, usually more than my acquisition outlay and rent-ready repairs.  

I also make it a point if I have a repair or service being done at the property it gives me a chance to see the inside while I over see the work being done.  

They have gotten repair quotes 2x what the market is (I'm convinced contractors give PM super high numbers because they know they can), they put the contract in touch directly with the tenant (so they aren't even managing the repair), and now they don't seem to be acting very quickly to collect rent or get the tenant out.  

I recently purchased a rental property and discovered it needs more extensive repairs than I originally anticipated.