… My answer is no… Time = Money… And I bet when all said and done… You will stick so much time into it that you would find that it is not worth it!

I bet you could get more for it if it's a SFH because your selling to someone that wants to live there.

I bet it's warm over there...

If you are planning to use a commercial loan, the rules change quite a bit. 75-80 percent LTV is your best bet to avoid down payments.

California always has been a good bet for real estate....Yes we are seeing many shorts sales and foreclosures etc even in Cal but when the market hits bottom there will be plenty of people out there in position to pick up those $1.2M homes two years ago for $600k!!

So they look to rent it out and at least offset some of the expenses not to mention making the property safer by it not being vacant.This means that renters (just like sellers were just a year or two ago) can make demands for things.

I bet you could find a couple on here.

Don't get me wrong... there are valid reasons... but if you don't know why you'd hang on to a money-losing property, then your best bet is probably to get rid of it.

I say that your best bet would be to find a probono attorney if you can not afford one yourself.

Sorry, I know you addressed the question to Mike, but I bet you he'd agree.