@Brent Hindman If you aren't looking to grow the rental portfolio quickly or build it to be large, then I'd probably just get a HELOC on it and keep it as a rental.

No offense, but I hate the idea.You can send someone a bill all you want, but they aren't going to pay it, which means that all you are going to end up doing is turning off their account. 

I think most of these bad investment investors aren’t learning.  

You could ask that they put a year or so of savings into a separate account on which you have view access or receive a monthly statement so you can see they have the ability to pay future rent.They aren't going to last without other income or savings with income at 1.25x rent.

Two recent clients purchased properties with less than $250K down in New Hyde Park and Lynbrook.One property has a detached garage to bring in additional income and the other has a 1-bedroom ADU.Both deals cashflow.These aren't easy to find in a seller's market but they're out there. 

Mahalo Nui Loa, Kwok They aren't running the comps correctly if you can't find a single comp to fit that metric for single-family homes in Indianapolis.

I think the *unreasonable* position is to expect that everyone is/can be equally good with money and financial issues, and those that aren't well that's tough **** for them.

@Seth RoseI would look at the approach from a revenue mindset, not a discount mindset (which is where the BRRR concept was born).Firstly, I would like to point out that properties with great cash flow potential and deep equity positions aren't just floating around the MLS.

If they aren't taking good care of something small like this in the first week imagine how they will treat you down the road, I'd fire them and hire someone else. 

In reality, you're not going to want the kind of tenants that want what you have to offer but aren't in a position to buy.