I think a 1031 exchange wouldn't be a bad idea if you're not making much on the property, and are worried about big repairs coming up in the near future. 

As an agent who works with a lot of investors, I have recently started to notice more and more that people will evaluate a property based on its current metrics, and write it off.

Imagine these older folk's financial planners did not plan on high inflation. 

21K seems to be on the very high end for everything.

Again, I give them the line and tell them the previous owner is responsible for all assessments during their ownership period. 

My title rep pulled a property profile on the house and it shows as a 2/2. 

I would focus on abandonment.

@Or UziCongratulations on entering the U.S. real estate market from Israel!

If everything goes right I will be able to refinance and will have created 25% equity, or I may end up having to bring $10-20k to the refinance to get the 75% LTV depending on the appraisal, but even if that's the case it's still a great deal.

Our listing agreement is set to expire on November 30 but we just wanted to move on.