There is great cashflow when I get a good tenant but I usually have to rebuild the place in between tenants.

I purposefully stopped interviewing potential tenants, as we've decided that this rental property may be a solution to another problem we've been having.You see, we're getting ready to tear-down and rebuild our personal residence, and we're going to need a place to live for 6-12 months.

Don't forget all the hidden costs of tearing down a building and rebuilding.

Now as a scrape, well that changed everything.Any potential in the future for a scrape and rebuild of condo/townhome etc?

Access to existing public roads would require purchase of easements from surrounding property owners as the state will Not allow them to rebuild the existing bridge in its current location.

Tax assessment value is irrelevant,you want to figure out the true After Repair Value after you spend the money to rehab it completely which sounds like $60,000 or more from what you described.Need to talk to a local real estate agent to figure out what you are likely to get for it in today's market.You especially need to have a good general contractor do a full inspection of every inch of that property to do a line item assessment of all the true damages and upgrades you would need to pay for and the time it would take to rebuild it.Sounds like 3 months work minimum or more.Lots of holding costs to consider if you are using hard money loans.How much do they owe on the mortgage?

We spent 72k to buy it and 90k to rebuild it.

No time for congratulations, this is in fact just the beginning.IAfter a few unsuccesful attempts at a stimulus and a generally strong negative connotation of the word itself, I would actually support a large "stimulus" focused on three things:1)Rebuild our aging infrastructure2)Build a "smart grid" and build large alternative energy projects to power it3)Build water recycling and conservation projectsThis would solve some of the largest issues looming over America in the long term, while at the same time creating jobs, putting money in workers pockets, and boosting the domestic economy in the short term - exactly what we need.

Sounds like the investor who is looking at your property is looking to tear down and rebuild.

Why did you need to paint the entire house, replace appliances, move cabinets, and rebuild the pantry?