A terrible DYI job.

I live near a municipality that has a reputation for having a terrible zoning board and building department.

It's terrible IMO as it puts in the tenants mind that the system needs to be replaced and that's not always the case, many times these guys are commissioned and just want to replace and not even diagnose.

The collateral is in awful shape (be sure to show pics of the terrible condition it's in if you can).

I found a few "good" deals but they all fell apart for various reasons once I did a deep dive on them (one was actually in terrible condition, another had nearly defunct hoa and maintenance issues). 

All of the deals I'm seeing from BP are in terrible areas.

Over the first few months I realized that I made a terrible mistake.

Hello, I recently had a couple years of bad tenants placed by a terrible management company.

A and some additional holding cost but of course those are then subject to AMT and may not be terribly useful. 

@Ruben Medina, if you have $150k in equity in the condo and only cashflow $3600/year that's 2.4% Return on Equity (ROE), which is terrible.