This is a way to own real estate without the head aches of leaky toilets or middle of the night calls from tenants.

One other very important hand tool is an 8-inch pair of slip-joint pliers, aka Channellocks.I would disagree about the Sawzall (reciprocating saw).

I joined BP to joint venture on SFR remodel projects and can provide a wealth of experience to any partner.  

You can then pay for the property outright and do lease options to bypass the head aches of rentals. 

Whether a joint venture agreement or a syndication.

It will ACH the payment for rent to the various owner's accounts regardless of what bank they are at. 

Sam -You are correct.Like Bill said above, you won't pay taxes on the equity difference between what you paid for the original purchase and the refinance appraisal amount (up to $250K for a single tax filing, $500K if you file jointly with your partner).The taxes I was referring to are your property taxes, which will ( I think at least) increase because the value of the home has increased. 

18 pounds of hot mud (setting-type joint compound powder to be mixed with water) cost $11 at the Big Orange Retail Giant.Should the repair wall areas require priming, a quart of Kilz2 costs $8.00.

Most of us have been there.It sounds like a break could do you some good but after that, go back to it.If your offers are not high enough, would buying the property under some joint entity with your siblings be an option?

That would give you the option to joint venture with a builder, essentially they use the lot as their equity/down payment.