So our cash flow was reducing during our hold due to poor ADR increase and large insurance and prop tax increases.  

I like one of our attorneys viewpoint (from our REI) who owns lots of property, He holds properties that have mortgages in his own name and holds larger properties where he has partners in an LLC.

If I can acquire the property free and clear I’d like to renovate it and sell or even hold it as a rental unit.

Quote from @Bruce Woodruff: So that's 7 months......now investors will have to add a bit into their flip budget to cover the extra 3 months (or so) holding costs... will make overall costs go up though... 

I am no expert but have been present for a few inspections and i always like asking questions.I agree with all that was said already especially holding individuals accountable for caring for their own system.

Is it buy and hold? 

There will never be an Internet forum where we all sing together and hold hands.

Bay area is for buy and holds.

In Milwaukee, look into networking groups like the Milwaukee Real Estate Investors Association (MKE REIA) lot's of different approaches covered including wholesaling and flips, or if you decide on buy and hold the Rental Property Association (RPA) of WI is great.

So, overall she paid over the amount that my contractor was at on price with holding costs and all, the work was not great, and we are still on the market 4 weeks later with one offer coming in lower than asking..