Hey mate,Sorry to hear about your troubles but it's not too uncommon.I've been in the turnkey biz for 10+ years now and have often been called the "bad guy" as we only sell to investors looking to purchase with cash.Many believe that because we only accept cash buyers, that we inflate the properties price which definitely isn't accurate.Quite on the contrary when looking back I feel that we under sold them lolWe can justify every one of our property prices with a CMA independent of our in-house sales.Whoever believes that financing a turnkey property makes it safe is wrong.Most turnkey providers or affiliates push the financing model (Even in today's high interest environment) to make more sales.They have "in-house" lenders or community banks that they establish relationships with and promise large volumes in loans.This in return get's rewarded with various favors and many are easily able to manipulate appraisals.Having flipped over a thousand properties, I know how easily an appraisal can be manipulated so for anything reading, "NO", financing a turnkey property doesn't necessarily make you purchase it for fair market value.To answer your question:When S#%@ hit's the fan like it did for you with this deal, I personally would always look to cut my losses and move on smarter and more experienced.Granted, over the years I have witnessed many investors buy 1-2 properties from my company and expect miracles only to get disappointed. 

I am affiliated with them and they have been growing quickly.

Also set up backlinks for affiliate partnership opportunities. 

You still may run into the dealer/investor dilemma that I outlined earlier. 

I learned more from him and his affiliates, multiple connections he directed me to.

I run a meetup in the Berwyn area that is an affiliate of the Neighborhood Building Owner's Alliance.

.* And for low performing properties one of the features i really like is you can make a change to your listing - lets say update the property description, log it, then see if this makes any chances in your placement.I'm not affiliated with them but think its a great tool to turn around poor performing properties - assuming the STR is competitive compared to your competition.I agree with Henry that you can probably do better self-managing IF you have the time and appetite for dealing with guests and learning the dos and don't....Heres is the turnaround of one of our Floridas STR that was lagging - now back to near the top on the first page.  

"The Fair Market Value can be determined on the basis of the average of the two appraisals.In all cases, each appraiser selected by a party, must be an “MAI” qualified and licensed appraiser or must otherwise be a member in good standing of the local AIREA, and must not be affiliated with either party.

Would I have to rent it out as a short term rental from May until late August to avoid being seen as a “dealer” in the eyes of the IRS?

And, ironically, it seems that Acapulco has undergone a renaissance with Mexican tourism.On January 16, 2017, 5 people, including foreigners died in an exchange of gunfire at the Blue Parrot nightclub during a music festival as a collateral damage of a fight between drug dealers.