It will require about 8-10k for a new paint job before we rent it though.On the other hand, if we sold the house, we would be losing around 20k after realtor fees, closing costs, etc.  

There is no win but lots of lose in this type of situation. 

You have nothing to lose by asking.I'm looking at a parking lot right now to purchase but need seller financing again to help with the down payment.

But assuming that once you file it is a quick process of a couple days then it seems it's just an attempt at being equitable to all parties involved....especially the one that is "losing" on the deal.

Or, risk losing your friends and alienating your family.

So, in order to get into RE investment and grow what I have now, to be able to retire between the next 5-10 years, I'll appreciate your guidance.Here are my questions/concerns, considering I am 61:If I take out X-amount from my IRA, I'll get taxed and lose a big chunk of the money.

I know that I will have to go to college or my parents will lose it.

When he moved out, he was instantly losing a minimum $350/month + repairs + maintenance + vacancies/non-payment- so he bailed.

The main reason was I was tired of losing out on listings to the market leader in my area.  

Lose win or win lose never works out long term.