They basically lived in squalor and I would have to demolish at least 60-70% of the house and rebuild.An investor called me today and said that he will buy it off my hands for $70k.I am not a flipper.

I'm just taking my cash and buying good rentals right that make me money today so I can hurry up and think about the next deal.

Also the seller rejected our offer today, so we are back on the hunt.

You might be better off that you learn more about  partnership memberships where you stay in control and just offer them income without being into working on the property's day to day operations. 

I have some interested buyers that got the house under contract, with a deadline to cancel for inspection period today.

Here are the basics:* 13 units today with significant cosmetic and infrastructure work required throughout.* Part of the rehab includes building out 4 additional units in an old common area.* We're 5 months into rehab, and we plan to begin renting the first completed units mid-Sept.* Overall timeline (including build out of new units) runs to late 2019.* In the end, the #'s pencil, but capital available for rehab will likely result in slower progress toward until rehab completion.And now the question(s)...1) Does it make sense to refinance at some notional midpoint in the rehab? 

Had the sheriff serve her the notice to vacate today so fingers crossed she gets the hell out.

It seems like there's a lot more room to make money by purchasing a rental out of state, where of course I'd need to hire a local property management company to oversee the day-to-day, etc.Assuming the right property can be found, it can't just be as easy as ballparking roughly 10% of rental income to go to the property management company... can it?

There is no doubt that doing well with turnkey properties in today's markets is far more challenging than it was even a couple of years ago. 

I am told that, "A buyer today may not be a buyer tomorrow", therefore making a buyer's pool somewhat unreliable.