You'll lose your money to turn over, repairs, and increase your risk of getting taking advantage of.

In this case, the deposit was increased to $400k which would have been the down payment to the Seller anyway.

Either the amount of renovation won't increase the after renovation value or sellers are asking fair market price without any room to negotiate.

So, I am thinking of couple of strategies.1) To sell and reinvest in other properties, i will have to do a 1031 exchange since it has been about 5 years since it has been my primary residence.2) continue to rent it out and wait for value to increase further.

If the values had increased they might not have needed the second.

Even if market values only increase with the value of inflation (2% compounding), a $185k property should net a $40k gain.I suspect that 25% vacancy is right about break-even for them, assuming the same 8% CapEx and 12% Maintenance and Management costs I used in the other models. 

The funny thing about multi's and SFR's, if you choose multi's its about cashflow, if you choose SFR's it is about appreciation.

I don't know much about that market but I have worst situation here in my neck of the woods, so I would say 8% cap with 11% COC is much better, but then you have to weigh in other factors and see if you can either increase the COC by lowering cost or increasing NOI thru some value add.

If you can take a reduction today, I can buy the house before it goes to foreclosure and you save the foreclosure expenses and risk of it going to the city if it doesn't sell.They might be more interested if you want to increase the tax value, for example if you want to build a house on it.Otherwise you have to wait until it goes through foreclosure and you never know when that will be and at what price. 

Although more costly than a window air unit, mini-split units are much more energy efficient which will save money over the life of the unit.Advantages- More energy efficient than other cooling options leading to increased savings over time.- Offer higher level of functionality like timers and sleep functions to allow you to customize your desired temperature settings.- The loudest parts of the unit are located outside making mini splits quieter and .- More secure than window air conditioners not only regarding intruders but also dust and pests.- Many units are designed to both heat and cool allowing for year-round comfort.I hope help you my comment, or to anyone.