You might be standing there with a dripping paint brush in your hand and a certain number of folks viewing the place will ask you "can I paint?".

This can save a lot of deals from falling apart through the transaction, or years later when the market becomes soft.

@Kevin DicksonNot familiar with the numbers up there but does the $225/sf cost include hard and soft costs?

It may give them the wrong idea - that you are soft, or will give them more time if they need it because you're such a nice guy, etc etc.

It's easier to default on rent than a mortgage payment. 1) DTI is hard to calculate as even one card can have multiple rates (purchase vs cash),2) not all cards have the same rates3) you need the rate to calc the monthly payment dueThen too the DTI is very broad brush and spans multiple years and good tenants with action plays can take YEARS to bring down the DTI - - thus you stereotype over a misleading metric.

Update: On how I closed this out (I am sure I was very very soft)I sorted this out back in July17, and I would admit I played conservative. 

BS in Accounting with a minor in Econ and PsychologyBut I'd have to say that college was more of lessons in the soft skills rather than the hard.

But in this scenario, you don't get your $121k back until the property sells anyway, so you might as well just keep it and hire the GC to rehab it for your.I think you should run your numbers including all your hard and soft costs, to make sure you understand the true profitability of each option.This what I would do if I were in this situation.

So you habe 50% + total soft costs to bear.

I didn't think I'd ever sell property, as a soft rule.Questions:1.)