Scott Carson is likely under the assumption that you are already an active member of Facebook. 

Double check with a tax pro, though.Receiving interest, for me anyway, is one of the most highly taxed activities as well. 

Even if you are able to cash out on it, you really won't be making any money, especially when you factor in vacancy and repairs.If you are set on this being an investment property and you are sure it is worth $210k, your best bet would be to unload it, take the cash and move on to something else that would be a better rental.

It sounds like my best bet is to talk with the current owner and try to get him to sort things out prior to the closing.

With that said, if there are recommendations for either of the above, or if there are active Agents and PM's on here that would like to meet with me, please reply or send me a PM.Here are my expectations:- I have cash on hand $150k for purchase and rehab prior to refinancing. - I would like to focus on B and C+ properties only.- Strategy is long-term buy and hold.- Purchase price to Rent ratio = 1% minimum- SFR to start off with, would consider multi-family in future based on performance/faith in team.- Minimum 1 purchase 2018.

It is infectious, and I would bet Dad would soon be on board with your line of thinking. 

I think your gut is telling you that that betting on appreciation as your only out is not the wisest choice. 

Hey Guys,I currently have an active California Real Estate Agent License.

I’m an active agent here on island and was previously a professional wholesaler in Tx.

In the great state of Iowa it requires 2 years as an active realtor to manage properties unless you are doing so under some one else.