Lived in Columbus for 13 years, 600+ transactions, development experience, new builds, 40+ rehabs, DM me if you want to know about the market. 8+ years on the forums advertising and building relationships with investors in almost every state.

Government actions are THE cause of the dysfunction in the real estate market and why so few investors and homeowners are transacting.

The tenant has not paid anything since April 2024, effectively staying in my property for free for four months.

How exactly does transactional lenders work?

New year, new laws (Senate bills 205, 206 & 207).Effective January 2, 2025, Michigan landlords can no longer consider a tenant's source of income when screening them. 

I realize that there are variables from market to market and property to property that could make VRBO more effective for a given property, but my understanding is that in general Airbnb bookings get out to such a dominant start in regard to percentage of the bookings, that VRBO and other lesser OTAs have trouble catching up.

Selling the PropertyIf your parents decide to sell, they could: Sell As-Is: At a current appraisal of $350k, they could walk away with a sizable profit (after transaction costs like realtor fees, taxes, etc.).

I would suggest giving it up and just hire an agent when you are ready to transact in the future.

. $275K acquisition  and you believe a 40 year amortized loan is necessary to make the numbers work, this transaction may have bigger problems.  

Everyone is transaction based.