You have allowed it to sit for 90 days.

Meaning, for the more simple minded people, you could sit with your thumb up your butt for 121 months before you run out of the $8,000.If you can make more than 0.8% or $65.90 a month on your $8,000 over the course of 30 years, then I would say you would have made the right decision to skimp out on the bigger down payment.NOW.. my honest opinion, although i'm not a mogul like some of these people are, or pretend to be on this website..I would say keep the $8,000 and find a way to get extremely creative with it in order to make more than .8% a month to make it a good investment.

Although the property is being sold only for $8,900 and comps are in the low to mid 100's. its kinda a steal!

Then if we did seller financing, we could use the buyer down payment to payback loans (if any) and then sit back and collect the mortgage payments. 

But it is still sitting there, and not on the market.

Just let them sit in the dark for a couple days.

So far Matt C is the only respondent with reliable information as he is the only landlord with experience in your state.You need to sit down and take the time to learn all your state landlord tenant regulations and how they are applied.

The 200k are sitting on my bank account, are there any options for me to minimize my tax bill?

@jason goretzki, I would love to sit down with you to discuss processes.

I personally would never allow a new tenant on a lease without the one leaving signing off. everyone get together and it's done in one sitting.