The housing market is obviously trailing the energy market.  

In fact, folks are having a hard enough time selling those nice homes in packaged neighborhoods.If it were me, I would buy this property for a rental, and use the remodel money to make it bullet proof instead of nice.  

So, my next step is to bite the bullet and pick up some units in NJ.

As for the windows, you may be able to get grant to update them to energy efficient windows depending on where you live and a power washer works great on moss!

Rome wasn't built in a day, the gurus paint a picture that this is REI business is easy, it's not easy.If you want a business that you starting from scratch with very little capital, then it takes time and energy to build it.If you're not license get licensed, or at least buy the books from Kaplan that RE agents need to study to get their license.

Bullet.  

@Curtis Bidwell Curt, your guidance post purchase saved me time and energy.

Should I just bite the bullet and update everything on the supply side?

My options are to enforce the lease and evict, sue and try to recover the money owed me or renegotiate and bite the bullet until next May taking a $3000 loss.

And reaching out the yield curve you have MLPs and such...where you may see a distribution cut or halted like what's happening now in the energy space.