I find it's better to connect with the deal, then see if it works and see if you like the area, rather than find the property and try to make that particular property into a deal.   

And as the buyer (my colleague) is now getting closer to closing it's starting to look like it might be worth just cleaning the place out and doing a very low cost rehab (paint, pressure wash and handyman repairs) for a quick sale.

I'm particularly passionate about Long term rentals but want to explore other aspects as I learn.Outside of real estate, I am a tech nerd and history nerd.Excited to learn and connect with you all!

So a home that was worth $250,000 a few years back would probably be worth $330,000 to $350,000. 

At that point, it's worth researching and finding a solution that better meets your needs.

I would greatly appreciate any advice and insights to better understand the local market and connect with real estate investors specialized in rental properties.I look forward to engaging in meaningful discussions, exchanging ideas, and build valuable relationships with other members.

Excited to learn and connect with you all!

Or is it worth going the route to find another investor to buy it at the 335k mark so they can resell it for that upside? 

You could maybe argue about the one they did the legal on and not pay that bill if it was without your permission (of course what does the agreement say).Probably not worth getting an attorney to fight this as it will cost you more next timeQuestion: did you have an attorney review this agreement prior to signing?

If you can connect me, let me know!