It can be done and make a profit, but unless you plan on financing it in a philanthropic sense it should only be done if you can make a profit. 

Unfortunately, this is a common complaint with that lender.. search the forum and you'll see what I mean.Good luck in getting a refund!  

Having a "real estate business" doesn't make sense.

Gas furnace/water heat for SFH's.I throw all that out here to ask what you feel makes sense?

Sure, take 10,000 homes bought by investors, and do regression analysis that gives me an indication of variables that are common, like geographic area, home value, home owner's age, income level, political persuasion, gender, ethnicity, or anything else!

@Manolo D. thanks for giving me a sense of cost.

Makes sense that the cash offer would be consider as the best option.

Please let me know if it make sense or I am being foolish.

Definitely makes more sense for the lender if they receive a mortgage and note.

I am contemplating getting rid of the $200 per month as well as the yard is tiny and the only cleaning is the small common area and two single bathrooms.