You should also be able to nail your rehab costs without getting bids at some point quickly.   

But before this, if you had carpet on the wood (which is a bit crazy), it will take hours/days to remove all the tack and nails, take out all the quarter round, scrape the edges, replace the bad wood, and fill the cracks. 

Financial Goals: If keeping the farm in the family holds significant emotional value, this can justify the purchase despite the initial lack of cash flow.Investment Strategy:If immediate cash flow and rapid portfolio growth are your primary goals, BRRRR properties may be the better option.If you can leverage the farm’s equity effectively, it could still serve your investment goals while preserving the family legacy.Ultimately, the decision hinges on balancing emotional value and financial strategy.

I will use max leverage if possible, regardless of interest rates, to preserve my capital.

Do you know the difference between framing, siding, roofing, flooring, and wallboard nails as an example? 

additionally did you hit the budget for the rehab on the nail with your estimates?

we use property preservation companies and they charge anywhere from $20-$50/photo depending on quantity and location.also provide you with a report on the property as well. 

It may not work in all cases, but I guarantee if they have a credit score worth preserving it will work more often than if their credit score is already poor.I would lower rent before I would lower my tenant qualifications.Good luck

A lot of banks have language in their business loan agreements that a default on any business obligation can allow them to accelerate their own loan in the interest of preserving collateral. 

If you botch your ratings you just put another nail in the coffin.