Just trying to unload it someone who doesn't know what they're looking at.

This property is going to be a major negative cash flow when you add in the expenses you have excluded and the higher interest.I would unload it asap take your money and invest in a descent rental, multi, close to home.

The returns don't look as good on paper, but here are some reasons to go higher end instead of low-income:-Liquidation - you can sell a nice property in good location pretty easily, the low-income ones are difficult and you can easily have to take a loss to unload.

Its the end of year and end of the 4th quarter so the bank may already have it ready to unload with the rest of their REO inventory.

I stuck around and started talking to the tenants: They spoke of a older guy possibly looking to retire and thus, begin to unload his portfolio, and the tenants gave me the owner's contact info. 

Originally posted by @Pavel Reyes Valdes:Seller is financing the deal.Well, just be prepared to do the same to unload the property at some point...as others mentioned, you'll be looking at selling in the $5-$15K range or selling on terms if/when you decide to unload it.  

HUD still isn't hurting enough to unload them cheap enough so we didn't counter. 

You would be amazed at how many calls I get from these people asking for advice on what they can do or wanting me to help unload their disaster.

Ran across a seller who is looking to unload a place for $225k (that is our max offer that is currently being considered).  

Let's say you are an absentee owner who wanted to unload a property.