Plus, taxes are high.

Marie is an old city with a high vacancy rate, declining population, poor tenant quality, and will never see any meaningful appreciation.

As @Michael K Gallagher shared, there is some benefit to putting yourself in a position to be able to perform a sale-leaseback option or other refinance once the property is open and has the financial capacity to do so.

Many agents will place the first applicant with the necessary funds, take their commission and leave you high & dry with a bad tenant.YOU SHOULD DO YOUR OWN SCREENINGS! 

@Will Boller I would highly recommend Hostfully.

The recent $418 million settlement involving the National Association of Realtors has introduced another layer of complexity underscoring the urgency for proactive recruitment approaches in a market characterized by uncertainties.Sales managers are often stretched thin managing responsibilities like coaching and finalizing contracts leaving room for sourcing high caliber agents..

Thes same can certainly and should apply to a PM that is hired to perform services on your property.

High crime & unemployment. 

Is it common to withhold retention from the general contractor payments until lean release is obtained from the sub performing the work?  

Guess what since previous weak tenant was market rent you are losing your ***.I look at high cap stuff when it's few years left ( blend and extend ) or it can be weaker tenant at higher cap rate like 10 cap BUT I want them paying about half the going market rent for the building size or less in that market.