Top two things to do are to:educate yourself on the different aspects of RE, figure out what makes the most sense for your life goals, and to pursue a deeper knowledge of that areafigure out your financial situation because that will dictate what you can/can't doI guess that was more than two things...

However, if the Ifinsurance company believes otherwise, see if they will pursue against the tenants, although I suspect they won’t ‘throw good money after bad.’

After several years on the bench I’m ready to get in the game and pursue my first rental property.

For me, this isn't a question of if it's worth it or not because I recently left my 9 to 5 to pursue this full time... so I have the time to work on it and the rest of my capital is tied up.

I was wondering if you guys would be able to help me analyze a deal and provide pointers on pursuing a FSBO.

How did you pursue your own flipping process?

What aspect are you looking into pursuing?

If that doesn't work, and they are not gone by the end of the month, pursue an eviction and go after every dime you can get, including past due rents, and make sure to file your judgement on their credit report.

If you did refinance and your future lender required 75% LTV (worst case scenario) on your property that is worth $435K then you could 1) keep  your current home, 2) collect $61K in cash to pursue other investing/real estate ventures, and 3) your monthly payment on your new loan of $326K even in today's higher 4.6% rates for 30 year, would be @ $1,673/mo. without any PMI ------ This is still less then your current payment. 

The tenant defaulted so you can pursue whatever remedy is prescribed in your lease agreement.