Dropping cash into any investment that has no expected returns and is not expected to appreciate or accrue interest is worse than letting that money sit in a bank account making 0.1% interest.  

The property is mostly a curiosity as I don't foresee any utilities EVER in the area or any real value to it.  

@Michael Guayo I have a question out of curiosity.

@Bill Brandt just out of curiosity, what happened?

@Matthew Von DwingeloOut of curiosity, how many more years on the note, and how long did the seller give you to pay it off?

Then, you would receive 70% of all distributions until you have received all of your capital back (but you would still receive 100% of the first few dollars to satisfy the preferred return that has accrued since the last distribution). 

I’ll be calling the city today to get information on the orders, what needs to be done to fix the issues and fines accrued (if any).

They could be accruing daily, weekly, or monthly fine/fees from the city until they are not complete. 

I've done a little research for you and found this for your state: A landlord must return a tenant’s security deposit and any accrued interest, minus any portion that was rightfully deducted, within 30 days after the tenant moves out.

Just out of curiosity, what was your profit (or loss) on your first flip?