Carry appropriate insurance (property, general liability and make sure you are listed as additional insured under tenant's renters policy and 3rd party vendors).

I would figure 6 months carry cost (cost to carry the property while it is vacant).

I charge a really high fee and require the tenant to carry bite insurance.Inspections are done on a schedule and always recorded with pictures and/or video.

If funds for the program are reduced or eliminated it would create a national housing crisis, so generally it just gets carried at about the same level each year.Yes, local governments run out of funds which is why they close their lists or the wait time is very long. 

It would be $1.1m, and according to AirDNA it would run -$40k/yr as an STR, and while local rent rates are high it would still run about -$2500k/m.It is such a cool and unique property I hate to let it go and would love to find a creative use for it that could at least carry itself (approx $6k/m+).

We back into the "strike price", meaning the maximum price we're willing to pay for a property, by starting with a conservative ARV and then backing off our required profit, the rehab cost, the time value of money (carrying costs and interest), and a contingency reserve for unexpected expenses.

It carries a $50k Heloc that’s being paid down. 3.

If this is financing for a stabilized property rate carries more importance but rate combined with origination fees, pre-payment penalty and term in which you intend on keeping the loan in place are all considerations which together should help in deciding the best financing option.

Not sure what to do now, and i don't want to carry a loan for a long period of time. 

I would never not carry it.