Certainly not investment property that one intends to 'hold' for the long-term.I mean, as long as the numbers bear out and you are comfortable with them, why not?

The Frigidaire-whirlpool models are notorious for bearing seals going, and the "spider" casting that hold the drum corroding out within 4 years, resulting in a totalled machine, as repair is nearly the cost of replacement.

Or put it in a non interest bearing account.If you do have to evict for other reasons at least you'll already have possession of the money which is the biggest problem with most tenants.  

Bear in mind that the OP is in South Carolina, not California, and no one is going to buy a cash flow negative house and bank on appreciation.Tell me how you can pay $800 principal and interest (or, hell, even $800 for PITI) against $1,000 in rent and make any money.  

Maybe the increased competition has "poked the bear" so to speak.

If CAP rates have no bearing on underwriting the buy then why are you using them to determine what to sell it for.  

And I highly recommend a CPA who specializes in Real Estate taxes.This bears out the real root cause of the issue from the original poster.

So the assessed value may have very little bearing on what the ARV of a given property is and it certainly does not take into consideration any repairs that may be required.

That bears some more though.  

Back in 2006, the lady who handled my tile/granite said she was making a killing converting 4 unit apartment buildings up in Big Bear into condos.