Do the maths. 

I did the math and they'd owe us $130,000 if this stands.I figure they will fight this order with everything they have.

I'd do whatever the math says works best, and don't fall for the low rate 1st fallacy.

I now have some important homework to do.

Quick math I think you will have a very low monthly ROI.

Napkin math on offers to get a rough idea, then a deep dive when under contract.

Let's use 10% to keep the math simple.  

You would then do the math to remove that exemption and see what the resulting yearly tax amount would be.Since it's your first time being a landlord, it might make sense to utilize a property management company or agent to find and screen a good tenant.

Its not real complicated, its purely a math question.

I been researching and doing homework on potentially taking on a rehab project and flipping it once done, I have a few properties/areas in mind.