Sometimes the asking price does not reflect what's actually going on, there's a tenant, there's a change in the seller's situation, etc. 

Property was originally listed for $1.2mm this past year they’ve done multiple price decreases to $699k.

Hi, and thanks for sharing your situation.

Nobody wins in that situation. 

Quote from @Ricky Reddin: Hello,This is my first post on the forum and trying to get some guidance on a situation.

Your clients should focus on properties with significant equity potential and work with experienced contractors to stay within budget and timeline—especially with borrowed funds on the line.Avoiding Bad Deals - Encourage them to work with experienced agents, contractors, or mentors and always run multiple scenarios, including worst-case outcomes, to stress-test their numbers.Reserves - Advise your clients to keep a reserve fund separate from their loan for emergencies, unexpected expenses, or delays.

Selling and buying something else you want keep and doing a cost seg in would help with the tax burden probably better in this situation.

Additionally, regarding the legal structure, an LLC seems to be the most suitable option for our situation.

I think you'd find it very helpful in your situation.

The Mexican corporation, generally advised if you buy multiple properties, given the higher costs.