The fact that you evaluated whether to sell or do a cash-out refi shows you’re playing a long game and keeping your options open.

@Juliann Morala Yep, a buyers agent that works exclusively with investors will have all the info you need and lots of options on contractors, lenders, attorneys, inspectors, property managers.

Give them a couple of options, they already know the unit got foreclosed, most people move to avoid the hassle. 

Financing options do exist: hard money loans, renovation loans, and some traditional mortgages can be used on distressed properties if criteria are met.

REI websites that offer sales data usually offer market rents when you switch to the rents option.

I think build to rent is a great option if you can get cheap enough land to make it worth it.

Account Closed a PMC has two options to get liability insurance (tenant slip & fall) protection:1) Get added to owner's policy as Additionally Insured (NOT named insured).2) Setup a master commercial policy and add every property they manage to it and then charge those owners the cost of the policy.Otherwise, a PMC CANNOT get liability coverage on a property they have no ownership interest in.So, nothing wrong with their request.

So those are kind of my options- rent at a loss or sell for the balance.

Another great option is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat), where you buy a fixer-upper, renovate it, rent it out, and refinance to pull your cash back for the next deal, and this is a good route because most private lenders can go higher LTV than on a rental loan! 

But you have a few different options.