That if I can pass on a sizeable net worth that he will be able to multiply it.

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

I was in Maui and bought site unseen, which was scary for my first deal but it was so worth it!

As they say, your network will be your net-worth.7.

Check out BP Podcasts: https://www.biggerpockets.com/podcastWishing you the best!

That parcel is probably worth $1.5 to 2M today.

The bank also wanted the church to maintain “compensating balances” in their checking account.We had an existing $650,000 mortgage secured by the property, which had been paid down to $615,000.  

I would guess that gets wiped out, but I would check with a CA title attorney who is going to help you resolve this and issue title insurance for you on the resale in the future.Some chance also this never goes to sale if there is a mortgage on the property. 

You have to run the numbers - at $389K plus costs for the rehab, is it worth it?

If the answer is yes, you can go Nathan's route and maybe recoup a third or so, but IMO not worth it.We focus more on preventing these situations in the first place with solid screening and frequent inspections, once the damage is done it's too late.Milwaukee is currently the second most competitive market for tenants right after Mimai, FL according to the Q1 report from rentcafe.