If he bought this property ages ago for $33k and it is only worth $50k now, I just don't think that the juice is going to be worth the squeeze.

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs). 

Coming in and making an offer after nothing for months on. a dying listing is also worth considering. 

i wouldn't cash out your 401K, it's not worth the penalties.the only thing I can say is to keep looking and don't buy just to buy.

Or someone went camping and got rained out and had to put everything in the dryer when they got home.There are some really cheap motion sensing cameras these days- it might be worth setting that up.

Peter Lohmann’s newsletter is a solid source for staying on top of national trends; I’d recommend subscribing if you haven’t already.In Texas, I’ve noticed increased activity, especially in the Dallas-Fort Worth area.

I think my main pain point is underwriting the property as it is and then seeing what it could be and then making decisions on if it's worth and how those decisions are made.  

It is worth paying more upfront if it takes less time on site to put together.

Just not worth it plus it's probably going to just get worse.I would not renew and re rent with it not being furnished assuming the furniture is trashed.

Based on what I currently owe and how high rates are this doesn't seem worth it to me.Does anyone have any advice on what the best way to do this is?