What you paid for it and invested in its upkeep are not factors for pricing/selling a property. 

ON THE OTHER SIDE, the liability and cost of fencing it in, as I would need to do, is a huge factor... 

So, I would only recommend doing it when there are synergies to take advantage of such as the partner having a skill like HVAC, interior design, accounting, etc. 2.

This tool is basically designed to help you decide whether or not to submit your LOI for further diligence.

It's arguably the #1 most important factor to a listing, be it for leasing or selling.

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.

ARV is a very important factor here. 600 FICO is minimum. 

@Dennis Bragg, how did you factor improvements and market appreciation into the buy-back price?

You’re absolutely right—speed is such a critical factor in securing deals, especially in a competitive market.

CPAs often advise against pursuing this designation unless the time commitment and documentation are robust, as failing to qualify can result in IRS audits or penalties.The 500-hour rule pertains to material participation in specific real estate activities or businesses.