I've given up on profit but want to be free and clear.

I am very clear of my role/responsibility in this situation.

Hence you need to be clear as to what the site is to do and then you can find the solution to do it.John Corey

More that the rent levels are clearly different as are the prices.John Corey

The conversation went great, and I was clearly the first one to talk to him.

You have clearly done a lot of things right.

I have googled it and haven't found a clear answer.

You need to read as much as you can and ask alot of questions so that you clear up anything you don't understand.

Telling me that it's a poor rental is clear, but I guess I was trying to see if taking a partner to front the capital and then rehabbing would be best, or if my first impression to assign it with a 10k bump in price is the thing to do, or to lease option might be feasible, or something else...I suppose it's harder to evaluate a home that is in such a different market; this neighborhood is so close to lots of change in downtown, and one of this week's top local stories is the discussion of the new NBA arena to be built just blocks away.

You're the one on the hook for the mortgage so unless it's an investment that you would feel comfortable making without this 3rd party involved, I would steer clear.