If you sell "as is," maybe you lose less money now, but if the place could grow in value or you think the property has good future, keep it because this might give more profit later, even when there are problems now.

I have wondered, at length, about purchasing lots that are zoned R-2 / R-3 and selling off the the one or two of them and then keeping one for myself and putting a home on it.  

But I would prefer to keep it a furnished midterm rental property.  

Best of luck, keep us posted on your flip.

I don't see how I can make it any longer, I keep asking God to open a door for me.Meanwhile, I keep practicing "Welcome to McDonalds, may I take your order please!"

Quick question- After you had the STR for 5-10 years and want to sell it now, can you just roll 1031, all the capital appreciation, and the bonus depreciation (claimed early on) into the next property and keep rolling the tax bill down the time lane? 

Also, I'm assuming I'll need to setup an LLC to keep my personal assets protected? 

FSBO's almost always think their property is worth more than it is, are difficult to schedule showings with, haven't prepared the property to sell, are unwilling to negotiate, and they almost never know the sales process or have the software or the contracts to make the transaction go smoothly and keep the deal from falling apart over little things (very common when there are no agents to act as mediators, buyers and sellers have inherently opposing interests and tend to argue then cancel the deal).

The infrastructure (e.g. roads) are having a tough time keeping up with housing demands. 

Keeping it the same may affect your appraisal.