I don't have a ton of specifics about the deal at the moment but I do know that the seller is entertaining selling all of the properties including the land they sit on for $250k.

I'm not a realtor, but before you bash me take a look at the comments from Realtors about the source of the article: http://realtormag.realtor.org/daily-news/2016/02/17/best-place-be-real-estate-agent From this link: "Does anyone at NAR check this info or do you just copy and paste it thinking that no one will notice that it simply doesn't pass the common sense test?

KC is similar to Minnesota.  2 major sports and a thriving arts/entertainment scene.  

In total, the estimate I got was going to be north of $25,000.I passed on the house and now it is sitting back on the market. 

Jeff BeardI have only showed the home for one day- should I just pass this one, keep showing the home and hoping to get more qualified applicants? 

But I'll assume you already know that and entertain the question.As @Chris Soignierhas correctly informed you, rentals offer the most tax benefits.

The bank will happily entertain your application for new terms - - you are an existing asset on their books and what they want is to update the rate.FORGET prepayment, the penalty is designed to discourage you from that - - clearly.Start your refi 6 months before  the note comes due and by all means, go back to the same back where you settled the first time. 

Thanks for the entertaining read everyone!

Even the inspector was upset that he found 1 thing wrong as he wanted it to pass first time.So all in all, a story that was going well....until.I get a phone call about 18 months ago, apparently the neighbor (white) has started putting up racial slurs on the fence line (my tenants are black).

In the case of a pass thru entity (LLC, S-Corp), it can help offset your taxable income.