The solution:Should I just unload the property, take the hit, and move on with the lesson learned?

I generally buy from Lumber Liquidators unless I catch a great sale elsewhere.

I recently went to my local REIA and the speaker mentioned going to the court house on auction day and finding the buyers of the hedge funds to market properties to.I would think this could be a good avenue for unloading houses that we would normally pass up, that is if the rumors are correct.

Buy a pick up truck , or trailer , you could go all out and get a dump trailer .I usually keep a 5 x 8 single axle trailer on my rehabs for trash so I dont tie up the truck bed ( no dump fees for single axle around here) I have a dump slide in for the truck for shingles , dirt , anything hard to unload .

Don't buy anything that requires flood insurance because it will be very difficult to unload in the future.You will pay more for houses in WLS...probably could be "all-in" for around $50k.

An example of this is 30 year commodity cycle (commodities peak every 30 years: 1920, 1951, 1980, 2011 etc) which bottomed in 1999 where gold can purchased at $280 / ounce in 2001 and one could have held onto this investment for 10 years and unloaded all their precious metal positions at $1920/ounce at the end of the cycle in April of 2011. 

The last unit we used one from Lumber Liquidators. it is very nice.

It was only after taking  control of my own properties and actually becoming a practitioner of investment real estate that I was able to significantly reduce the costs that property managers were unloading on me.

Dimensional lumber on the west coast has gone up 50% in the last year.. 

I know the current owners paid 264000 for the property and are needing to unload it.