Sit forever and get stale.  

If this is a long term hold and has strong potential, assemble a good team of professionals, get a permit, do the work once and be at peace forever. 

If so, most jurisdictions make no guarantee that an inspection is all-inclusive and that once an inspection is passed everything that might possibly be a code violation has been confirmed satisfactory forever.

I wouldn't waste the time trying to save up 20% down for an investment that will take forever for most people and the market can change a lot by the time you're ready..

I like to tell people you can get 8-10% and sleep well at night. 10-12% will have some nightmares and 15% target your going to have a lot of sleepless nights When people are investing $20k the difference between 8 % and 12% is $800 a year - it’s money but not life changing- people tend to not weigh risk vs returns in many instances. absolutely correct.. the market always prices for Risk... but rental houses seem to get sold with the idea that cash flow is a constant. and in some areas they are and like we all know you can luck out and get that tenant that stays basically forever.. we see this on the west coast a lot.. as there are far fewer options for housing than in areas dominated by rental properties..but those properties only make about 3 to 4% when you first buy them.. so people go hunting for yield and accept the risk.. and of course price points. 

Making the minimum payments will take forever to pay off the debt no matter what the amount of debt.

For ever D ran area, there is two R ran areas, if not more. 

Do they stay up your a** forever?  

You do not have enough to pay off the home, otherwise that would have been given consideration if it is where you want to stay forever. 

OK it's taken forever!