Doing this will provide very little principal reduction as if someone did a 15yr loan  from the start.  

If you watch the listings they are starting to have a lot of price reductions. 

After much consideration and lots of number crunching we have decided to try to buy and flip this one...As  tempting as it would be to buy and hold carrying the weight of that much debt for an entire year makes me nervous.....Thanks everyone for all of your help with this one:)

I like to take risk that are weighted towards success.I know of many people who were successful with these ventures during the pandemic but perhaps people who do this aren’t on Bigger Pockets because other than the land it isn’t real estate. 

The eves had to be held up with a beam during restoration so that the weight of the roof did not cause the wall to collaspe.

I'm assuming you already have it listed on the MLS the only house that has sold around the same price point was after a 75k reduction.

What a great deal, @Jeremy Weight.

We're currently in the process of renovating a top level apartment unit in a 2 floor building and debating on whether to go with carpet for noise reduction or LVP for looks and durability. 

Then you may consider it.I have a sheet that says something like, "As part of our paperwork reduction act, if you prefer, and if you have internet access, we provide you these links to the mold, lead,  websites"  Hard copy is available  upon request.Sign here that you have received the links, will go to the website,  and prefer no paper:Its saves me having to print 75 pages of what basically says don't eat lead paint, and don't inhale mold.

Best mitigation I can think of is to buy at a lower price so any reduction in cash flow doesn't cause it to go negative.E.