But this is the same thing as giving money away as expenses increase at a certain % every year.

Yes those are out of pocket expenses no matter what.

It seems like leaving it out would under-value the real estate investment opportunity, especially if you are comparing it to a different asset-class (like stocks) that don't give you that phantom expense write-off .Thoughts?

If yes,keep it and let the tenant follow their pipe dreams of home ownership somewhere else.Don't make their problems yours.If she needs section 8 to pay her bills,she can't safely finance a stick of gum let alone your property and you'd be headed for a long an expensive foreclosure before long.Now if YOU need to sell because you can't afford to repair it or it will need major repairs like a new roof,appliances,etc. and you haven't been setting aside money every month to pay for them well then that's different.Put it on the Bigger Pockets marketplace and let one of us buy it from you and relieve you of the burden.Good luck.

We too like the $50k range, though you can get a couple juniors for the $30k range, though we always keep $5k in reserves for expenses & foreclosure if needed.

Property is in good physical condition but there have been some expensive repairs and all the utilities seem high to me.

When it comes to whether to lease with option or sell make sure you take the taxes into account as Westchester is one of the most expensive counties in the states.

I think you need to greatly enhance curb appeal too to get renters in the door. 2 cents. 

You learned a expensive lesson.

Act as a RE agent that you are.. get a buyer if its a great deal that would not be hard.. sell it to them make your commish then get the list back  rinse repeat about 20 times a year and make your self a few hundred grand with NO MOney out of your pocket other than normal business expenses anyone would have when you have your own business that provides you a 6 figure income.on the credit side I don't think folks realize how devastating it is to let your credit slide.. at least when you then want to get credit.. if there is anything for younger up and coming folks to hone in on is the disability you place yourself in when you cannot manage your personal credit and you let it get bad.