Because of where interest rates are at—and how slow everything is moving—we basically made a "take it or leave it" deal.

In tip top shape both in the mechanical systems, design, and upkeep2.

I don't have much advice as now the profits are gone and it seems like the best thing to do is to get your money out the deal and move on.  

The two common ways to get rents up is 1) to move qualified family into the unit for a year 2) perform and extensive rehab such that tenant occupancy is not possible. 

We just gave our tenants notice that we are planning to move into the rental they are leasing from us.  

There are so many moving parts involved in vacation rentals....more people, in and out of your property every week or few days...people on vacation like to party more, so drinking and running around doing dumb stuff.

@David Matarazzo  Did either of you move forward with them for property loans?

Uncontested foreclosures move faster.Also - call the lender and apply for loan mod/forbearance etc.

Does anyone have any tips/ advice to help make sure my property will appraise for what I planned on based on my rehab?

I was told ( I better hurry, the project is just about sold out) As of June, the project is still selling and now the timeline has moved to the right by another year, 2023-2024.