Quote from @Dena Sommers: I own a home that is too large to rent - no demand. 

Start by analyzing cash flow and market demand for each property to decide which one to rent out.

I'm curious what the demand is for midterm rentals...outside of major metropolitan areas.  

This reflects continued demand despite economic headwinds*Pending sales increased 3.1% in the metro and decreased 2.2% in Austin proper.

I asked if there was anything else we could try, he got very angry and demanded I pay him in full.

In a market like this where properties are sitting a bit longer, buyer demand is kind of stagnant, many appraisals have been coming in lower than anticipated.

You can learn about demand, running an airbnb, and all the moving parts.

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

Austin area seems like a cool techie area with good rental demand.  

I’ve never sold a note so I’m not sure how big of a discount a note buyer would demand. 1.