As I said, I live in Australia, however my blood is North American and I have travelled a lot of North America seeing all my family and I also had a look at some proprties when I was there, mainly in Florida.

My market has turned into a blood bath fighting for rehabs pressing prices above reason, all the while rentals with a vacancy rate of 3% and a solid 5%-7% annual appreciation on rents across the board each of the last 3 years with the only change in sight to be growth to those returns.

Google leasing companies in your area, I know the yellow pages are getting thinner, but they should be in a phone book under property or RE leasing.

It sounds like you put a lot of blood, sweat and tears in it and it paid off. 

You can't get blood out of a stone.

This house wasn't salable then, and it isn't now, even though WE are throwing money, blood, sweat and tears into it.

So when you go to sell, unless your market skyrockets, you are not going to make much if any after only making a handful of payments.In my opinion the better option is to put the 3.5% down (FHA), put your blood, sweat, tears and money into it.

For some of us that used to live in the 1980, this is nothing similar to James saying, when I said inflation what I mean is there're 1000 tanks in the street, some general kidnapping the activist, there're actual blood  in the street.

Okay working the numbers like @Justin Silverio laid them out I agree with this assessment that it is much thinner than I would want.Being optimistic and putting a $540K ARV and take the bottom of your rehab with $75K I still would not want to pay much more than $300 for it.This is assuming using a HML, if you have someone with cash or much cheaper money it could maybe get closer to $350, but that is still with optimistic numbers.I'd move on unless you could Short Sale, but doesn't seem like the bank would go for it very easy since those comps are so high.

Not having any financing costs and only 1/2 normal commission costs allwos me to operate on thinner margins.