Offer a reduced price commensurate with the big repairs and call it a day.

With a cash purchase you reduce some risk and increase cash flow. 

@Joseph HenryIt works the same on an adjustable rate mortgage - if you pay extra it reduces the principal balance

Most of the landlord unfriendly laws like rent control etc. end up reducing supply, contributing to a supply/demand imbalance and increasing appreciation potential while reducing turnover.

Increase your cash flow and wealth and reduce overhead and management time. 

Happy tenants are more likely to renew leases, reducing turnover costs and vacancies.Legal Compliance: Property managers ensure compliance with local, state, and federal laws, including regulations on rent control, fair housing, tenant rights, and eviction procedures.

I’ve heard that a debt settlement attorney can help negotiate with creditors to reduce the total amount owed, which sounds appealing, but I'm a bit unsure if the cost is worth it, especially since some charge high fees.Has anyone here worked with a debt settlement attorney?

House hacking is a cost-effective way to reduce housing expenses, manage tenants, and build equity.

@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

After the sale of the company, we have:9-15 months of personal expenses in savings to live off ofStart with $100k cash and do micro flips to avoid the risk of a hard money lender and losing our tail if something doesn't go right or sell quick enoughOnce the house sells, reinvest all the cash back into the next flip and continue doing this until we are doing multiple flips at a time (he can manage 4 large projects at a time by himself, so we assume up to 4 active flips at a time eventually)Pros of doing this:No longer having to manage W2 employees/operations (this used to be my role but now that we have kids I want to stay home, not do this)Getting a larger chunk of cash to start flipping quicker vs waiting 1+ years to save enough cash for the first flipUsing cash reduces our risk of losing money with a hard money lender if the project takes longer to sell, rehab, etc.