This could allow you to re-evaluate LLC options without incurring the cost of another refinance.

I’m collaborating with an investor who can help cover the remaining balance, but since the property isn’t in the best shape, and maybe fairly priced, but I’m evaluating how much room I might have to negotiate.

2) Owners NEVER take into account the time required to:- Evaluate & select materials- Order materials- Pick up materials- Coordinate access with tenant- Dispose of waste- Scan and process receipts2) According to Angie's List, labor cost can be $250 to $700https://www.angi.com/articles/how-much-does-microwave-instal... 

You kind of jumped the gun with the purchase in evaluating the entire picture prior to purchase, but it is what is right?

If the inexperienced investor knew how much work, effort, time, analysis, negotiation, organization, capital, and knowledge it takes to successfully find, identify, evaluate, and close on a property that fits the criteria that gurus falsely claim they see 100’s of every day, 99% of them would abandon their real estate dreams” and pursue ostrich farms, mink breeding, or setting up a “down line” to sell condensed cleaning products that their “upline” has an exclusive distributorship on for the southwestern quadrant of Bisbee, Arizona.  

A complete pitch deck will include: We'll evaluate some live deals to make sure that your assumptions and ARVs are in line with what our underwriter says.

However, you’d want to carefully evaluate market conditions to ensure you don’t lose too much on the sale.Pros:Avoid further investment and risk.Free up capital for other opportunities.Cons:Selling costs and potential difficulty finding a buyer.You may miss out on potential appreciation.Recommendations:STR Route: If you believe there’s potential to improve revenue and occupancy by refining your property’s appeal, going the STR route could work.

If you have a lot of equity in your home I would first evaluate if it's possible to leverage any of that equity to acquire another asset that would produce more cash using a home equity loan or line of credit3.

Every property of interest must be evaluated based on current and future performance.Current ConsiderationsTime to rentRenovation Cost & RiskInitial ROI and cash flowPurchase PriceMaintenance costAcceptable area rental restrictionsIn an area that is doing well and likely to do better in the future.In the migration path of urban sprawl.Future ConsiderationsThe location has a track record of appreciation and rent increases.It physically matches the expected demographic changes for the foreseeable future.Buy what your “customer” wants to rent, not what you think is a good property.

Keep evaluating deals even if not ready to purchase the next one and keep your skills sharp.