It’s a newer property so is there central air and city utilities?  

., having started rehab on it (nothing has been done), then saying there were squatters in it who caused damage not covered by insurance (didn't happen), that his contractor had received rehab money and materials were stolen that insurance didn't cover but there was still "a good chunk of the money left" (contractor verified he never received any rehab money from Dustin), and the last straw being that there was insurance on the property.

I would send the tenant a letter advising them that the deposit would be held until normal operations are able to resume or until you can get someone in there to repair the damage they caused.

If there was ever a time for the "uber" or "air bob" of Real Estate Brokerages to make a big move and take over the industry, now would be the time.  

While I cannot speak to commercial construction specifically, at least in the residential world it is far cheaper to do significant renovations to a badly damaged property than it is to build new in Colorado Springs.

The air handler is from Carrier and still original.

The air handler is from Carrier and still original.

The security deposit is barely enough to cover late rent & damage.

You can be doing real damage to other people with unethical behavior like this.

Great school system/community- 2 buildings- 6 units in each building- 2 Bed 1 Bath units-1000 sq ft per unit, appliances included, washer/dryer hookups in each unit- built in 1998 so fairly knew-Rent Roll is low and will need to be raised- Currently at 590$ per unit - Very low vacancy rate in the 15 years the owner has had them- New roofs, Air conditioners-Building structure seems very good.- Another plus is that I own 16 units just down the street so the location for me is helpful.His initial asking price was 650k and now he is thinking he needs to be at 700k.