The bleeding hearts here sound very pious, but it's your life.  

@Jeff S. Well

It still amazes me how these streets do not bleed over into one another. 

W/S: Well, no, an offer this good doesn't hang out there forever you should sign right NOW.  

Win or lose, I still bleed green ;)So any fun story you want to share of your first multifamily investment? 

Until the property is sold, this loan will still go against the equity though.Bottom line is this:1 -  You will be losing money on this property every month/year you are only renting out the upper unit.2 - If you sold the property, and you didn't need to pay off the rehab loan from the sale proceeds, you could walk away with at least $80k (you have to subtract closing costs from the potential $100k+ in equity)3 - You need to sell this property ASAP to stop the massive bleeding. 

You WILL bleed.  

He is already bleeding money on this "Pandora box".

This park sounds like a disaster to me and I bet it will bleed you dry.

I've seen owners refuse to accept lower offers after the house has sat unrented for months for that very reason...but I've also seen owners cut their losses and accept lower bids to stop the bleeding.