For close to a year.That hurt...especially since I had to service the loan along the way.What I did was use my cash reserves to carry me until I unloaded it to eventually break even.

Once word got out, people with cash came in to buy everything they can at inflated prices, remodeling and reselling to others with cash and so on.I purchased most things 4 to 5 years ago and I've slowly started unloading in Asheville in the past year or two. 

This is what I had in my notes: Plan A - buy STR more or less market ready via 1031 QI Plan B - buy and convert to STR - what I did 25+ times and called (in 2002-03) BFLR (Buy, Fix, Lease, Refi) and what people on BP now call BRRRSTRPlan C - revert to Mid-term rental (monthly or longer) if STR doesn't get tractionPlan D - Land Hacking - alternate income streams and value creation: RV pads; hunting/fishing rights; timber production, options, or sales; alternate marketsPlan F - Modified Homestead; value add from "local use dimensional lumber" in building, follow the Section 121 exclusion rules and reside in property 2 out of 5 yearsPlan D and F means this property failed as an investment.

Like right now lumber shot up mid project .. but at least its happening to everyone and its not someone stealing from U.Lennar is even moving into the new construction for rentals.. its always been around in some markets you will see it on Turn key operators web sites.. and its a nice alternative to a used house thats for sure.

I took my lap top just in case.. the lodge said no internet but lo and behold there it was wi fi.. there was no cell service though so that was good.. the guys I were fishing with  were retired fully  one owned car dealerships one a newspaper and one a Lumber mill.. their big interest after fishing was to check who was doing well in the golf tourne and other sports pursuits..

They will understand the financials of buy to hold and buy to flip investments and be able to offer you off market deals on currently managed properties that owners are looking to unload.  

Also a truck with a window that opens between the cab and the bed is very useful for long pieces of lumber.   

The flooring is from lumber liquidators.

I would try to do what ever you can to get the best sale price possible and unload the property. 

I found someone on facebook market place that makes them out of reclaimed lumber and had them build me two 3' x 6' boxes for $40 each.