Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Good afternoon, I currently live in the UK in a property owned here with my partner, I have two properties in WA- One is a long term rental property with no mortgage that I inherited in 2020 and the other is currently used as an AirBnb with a mortgage that I am still paying and have been for the past 4 years.I am looking to sell the house that has no mortgage however we have to wait untill June for the tenants to move out and it is unlikely that it will sell before then as it needs some work done to clean it up for listing.What are my options currently?

I'm hopeful we can find more productive ways with less red tape in the future outside of LIHTC leveraging technology since standard construction really could use an overhaul.  

We have a commercial 30Y fixed DSCR product that may work for you.

They sell a 4 unit for close to 1 million dollars close to Jacksonville. they want 250k or 300k down. there's no upside. you can google the properties on biggerpockets and there isn't a lot of satisfaction. it's a slow return and get rich slow strategy. our focus is always as a builder to add maximum value, lower cost as low as possible, build and rent and build and sell the same product and raise prices to help investors out. we have a large market share and large purchasing power in our market in columbus ohio. the one strategy I never liked about turnkey new build brokerage companies like them and build2rent or others is they don't really build close to urban centers and most are single family homes. the numbers don't work on single family homes. if single family was the way to go more companies would be doing it. but by far the most common type of new construction built is three story walk up apartments.

So I just went with a clean design, laundry in the unit, HVAC, and new appliances sealed the deal IMO

However, if you intend to work with a hard money lender or utilize a short-term loan product, you're on the clock for repayment, which can be stressful if things go sideways. 

A few public projects have cleaned this up but the area has never prospered since.

Japanese people culturally like brand new and shiny products and you will have a small market of investors who won't touch unless you offer attractive yields.