Putting more thought into this @Kevin Sobilo ...KEEP Town home: we would have to use an FHA/low/no money loan for our next primary = high mortgage. 

if so, about how much does that cost to initiate (ballpark)? 

I’m curious to know if the 10-15% fee (being low for STR) is worth it.

Otherwise they will continue to pay yearly taxes and maintenance costs, and not be able to foreclose the property as it will sit here leaking and falling apart and the mold continuing to spread.

Once you find a house that you believe would be a good rental, meaning desirable to your target market of customers (people within a couple of mile radius of the place), and all of the costs of monthly ownership that you can accurately project fall below the rental amounts that you project that you can get from your target customers, then you have a possible business asset that you can use to produce income, and have renters pay down the mortgage, while hopefully it goes up in value at least with the rest of the economy. 

I was able to get them $9,000 off of the asking price, and a $30,000 concession to cover closing costs and a rate buydown further increasing their cash flow.

However, interest rates are so low now.

To break even after commissions and closing costs, I'd need to sell for at least $275k.What would you do if you were in my situation?

BPCON will be rather costly, considering you need to fly to Mexico and the tickets start at $1739 if you are a pro member.

What's the acquisition cost, build out cost, exit strategy?