Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.

You could discuss the specific terms of the initial agreement, any implicit understandings about financial responsibilities, and explore potential compromises to resolve the tax issue.

Are you willing to risk $30K for the potential to free cash flow $700/month? 

I’ve heard that some agents will meet with potential clients to look at the property then go on a second appointment to discuss price and fill out the paperwork while other agents will give a price and push for the sale on 1 appointment.What’s your listing process?

I know we just bought it but I see huge upside/potential.  

I've been considering acquiring a fix-and-flip property situated on a large acreage, with enough land to potentially split into lots.

To me this sounds like an incredible opportunity with tremendous negotiating potential.

For most they just loose the profit potential, it's the LP's who are generally holding all the $ risk.     

It is better to get out in front of these potential issues so you don't waste time and money. 

Yesterday, I had the opportunity to drive through a potential community with my parents.