This will save me much more money eventually than the cost of the bookkeeper.  

Many property owners rented, and decided not to rebuild, but to sell their homes and use the money to invest, travel, etc., staying in rentals.

This money gets added onto the back of the loan kind of like a VA funding fee does. 

Does it make money?

Quote from @Andy Sabisch: Will it help you sell more or get more money? 

If you have other money to grow your portfolio even with $107K left in the property then  hold the property. 

Assuming that your taxes and insurance are around $500 and your mortgage was $1,000 per month - even if you got a rate around 7-7.5% and had no money down I do nto see this property cashflowing.

I have been investing in real estate for well over twenty years and can tell you there are a lot of ways to make money in real estate. 

It cost us more money than we would have liked to have spent, but we were able to put a house on the market that we were proud of.

I see hard money lending as just part of the cost when doing these kinds of deals.