Insurance came out and said it isn't covered.

What strategies did you use or what type of creative finance ?

After analyzing the deal further, estimating holding costs, realtor fees, monthly costs on hard money, estimating the worst case scenario of it taking three months to sell (average time here is 43 days), rehab costs, insurance, etc., I am pretty sure we need to pull out. 

Do you want to start with sub-to and owner-finance because you don't have the capital or because you think your skillset can match the strategy.

Meanwhile, while you wait for an uncontrollable event like appreciation, you are losing $1,000 +monthly if you have 100% occupancy on a LTR at $2k per month.( prop tax, insurance , mortgage)Cut your loses.

that makes sense, I want to get familiar with the tax strategy and hopefully venture into the STR world once I move in the next year or so, let's stay in touch!

In Gary Keller’s book, Shift, he lists 25 creative options that are most common, but barely scratch the surface:- Seller Contributions- Seller-Funded Permanent Buydown- Seller-Funded Temporary Buydown- Owner Financing...

Also, for anyone based in Philly, I've heard from one contractor that quotes of 20-30k were common a few years ago, but due to recent rule changes, contractors need to maintain excavation licenses/ insurances to do any dig out work and that cost is getting passed to customers.

Raul,PM me if you need to understand the strategy behind these contracts.

I used to define markets by state but now we do by zip codes and strategy. there's 440 zips in ohio, 7 of which we do business in which are downtown columbus and that is the urban core and urban core adacjent. rents are higher, property values are higher, developer and density friendly, low risk land or infill land, plus fastest appreciation in the market.