I worked for a few brokerages in Lake Tahoe for about 6 years and then the market went dead.A funny marketing story, I listed a mostly burnt down home on Park and Greenwood in South Lake Tahoe and I spent the summer holidays and most weekends holding an open yard(could not go in the house due to its condition).

Here are the stats on the house: 3 bed / 1.5 bath 1026 sqft living 5662 sqft lot Built: 1985 Brick exterior, wood floors, ceramic tile kitchen, newer dark wood cabinets, newer appliances, freshly painted throughout, new front yard, fenced back yard.

However, that deal may have been salvage-able.

My answers don't take into account your personal relationship with the borrower, because I don't know enough about that, and it may be impossible to salvage anyway.First, although you appear to have a significant equity cushion, it is amazing how quickly that can change.

A nice home in a great neighborhood, no issues, priced correctly, can sell very quickly with just a sign in the yard & maybe ad on craigslist.

Yard?

Recently I had soms tenants in a duplex who were having some disagreements over dog poop Pickup in the shared yard.

Tenants also like not having to deal with yard upkeep.This has the added benefit for me of curb appeal, smaller utility bills on turnover, and nicer properties tend to draw better tenants.

Box is great but will need some minor work and I plan to replace all outlet and face platesGeneral yard clean up and addressing the small things to make it look nice.Some things I may just sub out to save on time if the price and work will be right.My philosophy when doing a project is "if its worth doing, its worth doing right" great grandma taught me that, she was in real estate also.I do have my work cut out but I plan to work after my day job and on the weekends all day.

The property itself had potential...nice yard, 2 car garage, upper lower duplex.