If you are looking to build your investments the cash flow may not be the best at first but with time will get better.

Or is there a better option for us? 

I have been 2 night min, but I have heard that you may get a better quality guest with 3 night minimum.  

On the 30th day which is in a few weeks you may want to reduce the price by usually 5% which is $11k so you may actually fare better taking the deal instead of possibly spending more in holding costs and losing more money if you continue to rack up days on market. 

Echoing what @Devin Peterson said... unless you put a lot down, purchased below market, renovations substantially increased value, or better yet a combination of all that he wouldn't have enough equity to refinance.

Could you sell it and put the money towards a better income producing asset? 

Even better, the Fiskar Ocean prices cut by almost 50%.

There are plenty of threads on this forum regarding better insurance vs LLCs and the best path is not black and white.

By the time you get to know the market, you'll have a better understanding of the players, including the wholesalers and investors.

If it makes you feel any better you are not the first nor the last that has done this.