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. 

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

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

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

@Sandra Ho, It sounds like you are talking about late payments on their credit report for things like credit cards, car payments, student loans, etc.

I hope it helps me on my real estate investing journey.

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

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.

Are you getting a discount on this property?