Dundalk I would prefer compared to Essex as it's closer to the city. 

Have you taken the time to sit down and reflect on last year and how you did compared to the goals you set for yourself in 2024?

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

It's worth comparing terms between your current lender and others to see who offers the best deal in terms of rates and fees.Purchasing a Property: Whether you purchase through regular listings, an agent, or an auction depends on your risk tolerance and expertise.

What happens to the 'comparable value' if the area is uninhabitable or a community that won't return for years? 

If you were comparing RE/MAX Broker A to RE/MAX Broker B, then I would say it probably doesn't matter.

The key is to compare each scenario side by side.

IMO 6 months is nothing compared to other illiquid assets.

If you have high W2 income, the amount your STR makes (or loses) will be peanuts compared to the tax savings.

I'd be happy to get you some rough terms to compare to other options that you have, but I also agree with Jay that you should be wary of just selling and loosing that equity that you've built up in the property.