If the return is primarily from assumed appreciation, I would absolutely pass. 

Just an honest reply from someone who once thought like you 🤣 Thanks for your honesty, I can appreciate that.

Investment Info:Single-family residence buy & hold investment in the White Mountains of NH.Single family buy and hold property with the primary goal being STR income and appreciation.

Any feedback from this community would be greatly appreciated!

Much appreciated!!  

Larger investors generally invest in quality assets with lower cash flow that appreciate over time if they're doing a buy & hold approach. 

Thanks Stevo, I appreciate the reply and you could do it that way however, it doesnt really solve the problem of a potential runaway water bill from say a toilet left running while the tenant is on vacation somewhere or some other problem where water is left on or leaking.

There are still great investments in Reno Tahoe, NV that are on market and will continue to have strong appreciation. 

Given your experience as an investor, I would greatly appreciate your advice on what you would do in this situation.

If you are transparent about it all and the property is vacant, most will appreciate closing earlier.