I have one rental with a pool, I don't like the pool company I had used, and the pump was out, so I bought a pump online and called a plumber I use for small jobs,,,he doesn't speak english and I don't speak spanish.I showed him what we needed to do to plumb the pump,,he started and I left,,when I got back later I noticed he had run the pipe differently than it was before, but everything worked fine.A day or two later I was over trying to get the pool in better shape (since the pump was out a few days it had greened up),,when I went to clean the basket on the intake side of the pump, I realized the way he ran the plumbing, there was no way to get it out,,,he ran a line over the top,,you can open it, but no room to pull the basket out,,,so I just cleaned out the basket by hand and told the tenants that was how it was done,,,they didn't know the difference

Regardless, the shareholder loses his interest in the company.On the other hand, the LLC treated as a corporation for tax purposes, is still an LLC under state law.

My tenants/roommates would be staying in this house for only a handful of nights per month, so it would be pretty quiet.

On the other hand, talk with your broker for ideas or contact other agents in your area for advice.

I'm guessing the township just wants it off their hands, and could probably use the lump payment.

I plan on retiring within a year and I will have lots of time on my hands.

Those buildings typically wear the owners out quicker than the bigger "hands off" properties with management in place.

Some forum search results (hand-picked by me :D )http://www.biggerpockets.com/forums/95/topics/59930-has-anyone-here-worked-with-afffinity-group-management-http://www.biggerpockets.com/forums/53/topics/41874-the-best-insurance-for-rehabbers

You have first hand knowledge of the properties that will come available plus their condition.

And doing a short sale will certainly hurt your credit.OTOH, continuing to hand onto this underwater property is going to hurt your pocketbook.