An idle brain/body just begins to get worse if you stop using them.

Would love cash flow, of course, but if I could at least break even on a highly appreciating property, I'd be happy with that. 

RESOLVE this issue NOW and make a clean break. 

Though, my main goal is to be break-even or close to it in cash flow once a property manager steps in to take over. 

@Adedayo Adetunji people that break into a property & occupy it are called "squatters".On September 24, 2014, three new Michigan Statutes went into effect to make squatting a crime and give landlords more options to remove them (see Michigan HB 5069/PA223, HB 5070/PA224, HB 5071/PA225).

This news sent the deal’s value into a tailspin.At this point, I was looking at barely breaking even.

The city wants to have "Neighborhood Anchors Points" consisting of Mixed-Use and Retail/commercialVisual of all land bank properties The area I will focus in.A break down of cost to purchase all Land Bank properties on each street. 

In your experience, do you find that it's possible to cashflow or at least break even with these properties and today's prices/rates?

The local/ state etc (governing body) may not just "give you" one.

To rent the home, I would lose about $2,500 per month (based on comparable rents in my area, property management fees, etc).Both options loose the same amount by roughly 2 years, and by this time, I still will not have built up much more equity in the home to make selling it a break even unless there is price appreciation by then.My dilemma is this: I speculate that my home will not appreciate much in the next 3-5 years due to the rapid pace of development in the surrounding area.In 5-10+ years, maybe, but by then I'll have bled $150,000 - $300,000.I have thought about this a lot and feel that I mar'-too close to the problem to see the best solution.