These are the few numbers I have (purely based on first conversation) Her operating costs are about $900-$1000/month. about $450 for the county to come inspect once a month, costs of upkeep, meter reading, invoicing etc. 

I find that they actually offer more than some other programs at a fraction of the cost. 

The buyer must come up with the difference between the seller(s) current mortgage balance and agreed upon sales price, plus closings costs. 

(Sales price minus selling costs minus purchase price.) plus maybe 10% in state taxes. 

The rationale being you are reducing your personal housing costs as the rented unit will be covering some of the costs. 

In order to make a decision on keep vs sell it comes down to holding costs, repair costs, total all in costs and projected ARV and rents.

Do small cosmetic repairs to start with and start learning the rehab process. 

But it's costly, currently I am in the process of setting up ReiReply Power Dialer.

His cost basis at that time plus any extra amount he spent would be his new cost basis.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!