Evaluate and Negotiate: Assess property value and financials.

The vast majority the rest of the nation will continue to see moderate to slow increases in value. 

I learned about property values when I was looking to buy them to fix and flip.

I'm willing to leave the property empty for a year to take advantage of owner occupied loans, if that's possible.Here are my estimates..Property: 1,355 sq ft, | 3br 2bath | 8,500 sq ft lotComps / ARV: 500-560k ~ 530kTotal Needed: 340-400k ~370kSale Price: 270-310k ~ 290kRenovations: 70-90k ~ 80kSevere cleaning needed (doing myself)Severe landscaping needed, it's a jungleI'd like to maximize potential value and be at the top of in-area comps, so would like to do a full gutCash on hand: 20k - 30k------------I'm considering,- Seller financing + separate renovation loan- FHA 203K (BRRR)- Fannie Mae Homestyle Renovation (if down payment is below 5%) (BRRR)------------Seller Financing + Separate Renovation LoanPros:Low down payment (via seller willingness) <= 3%Low interest rate (via seller willingness) <= 3%Cons:I'm unaware of how I can finance rehab without a personal loanMust cash-out refinance to obtain equity, conventional loan rate will not be as good------------FHA 203KPros:Low down paymentBundles rehab costsCons:Higher interest rate than the seller financed loanMust cash-out refinance in order to obtain equity and make an investment property------------Fannie Mae Homestyle RenovationPros:Bundles rehab costsCons:Higher interest rate than the seller financed loanMust cash-out refinance in order to obtain equity and make an investment property------------I may be totally off on what would be optimal here but wanted to provide my current thoughts.

However, before using your home equity as leverage, think about how it will affect your total financial condition and investigate the possibility of a higher appraised value after renovations.Speaking of which, it's imperative that you obtain a current appraisal in light of your recent progress.

The condo’s value is around $550K, and we have a remaining mortgage of about $200K.Our primary residence is valued at approximately $2M, with a $1M mortgage.

You also will not get full value for the SF associated with the bath remodel. 

On the flip side, if I keep the property and rent for the above values, I would be paying off the debt every month from the income, essentially making me debt free due to the payments being covered, and I keep the asset, which will start cash flowing a lot once debt is gone. 

Ehhh my own fault.I'm deep on regional banks.I believe they are the back bone of American small business and all seem very well positioned.After reviewing many P&L's and balance sheets, I see lot's of value but time will tell.I'll either be a hero or a zero with this high risk investment.Wishing you much success and keep the dream alive 

Values may have dropped 20% but for long term owners they don’t care.