Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

I've never spent money on inspections/environmental before having the property under contract.

ASSET BASED LENDINGNote: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank. 

I thought I was buying at top of the market in 2020...and 2022...but prices continue to remain high. 

If you want to try either, Michael, go ahead.

When you can borrow 80% tax free and continue to collect the income?

Hence, the search continues.

When you go to sell, you're subject to tax on the amount of profit between your adjusted basis and sale price, not your purchase vs sale price.Recapture is not repaying the depreciation.

As we wrap up the year and look ahead to 2025, the real estate market continues to present unique challenges and opportunities for investors, brokers, and lenders alike.

Insurance is definitely an issue there, and will continue to be.