Run away and don't even think about it, I couldn't image the headaches this would cause. 

Im starting to look at the pros and cons of my initial deal:Pros of keeping duplex: More stable predictable incomeEase of not having to sell and buyEasier exit, larger buying pool, and more room for appreciationPros of buying cabin:Higher ceiling for income, but also some potential for lessLess headache compared to managing own propertyAble to use property for recreationGet out of updating duplex propertyseems like almost a coin flip, wish there was a way I could keep duplex and buy cabin as well but with 2 mortgages I think I am tapped.

It sounds like at those price points you are looking at the lower end of the rental neighborhoods.IMHO - I would suggest looking at a little better property to save yourself lots of future issues and headaches [I've been this route before and it's a tough road].I'll be glad to point you the right direction with any questions you may have for the Indianapolis market.

Don't create a headache for yourself by pursuing this, you might be able to get your $3,000 but your loss (wasted time, etc.) worth much more than that so it's not worth it.Kindly contact her and ask for feedback.

I wish you all great business success, prosperity and few headaches.Speaking of headaches, let me share with you my current debacle in hopes of getting some reassurance that I haven't made a big mistake and if so getting some ideas for softening the impact.So here it goes...For one reason or another and against some of our core principles, we engaged the services of a GC for our latest rehab.

At an estimated cost of about $14000 (+headaches.)  

It will potentially reduce headaches later.  

These new properties cost more and don't fit the rules of thumb, but they also don't have the expenses and headaches.  

That's not even including a HELOC which I can get from my own residence which could be another few hundred thous.I'm not a big buy and hold guy, although I do have about 3 properties, but I am not the guy who wants to have 10 properties and deal with the headaches.  

It was my most profitable property at that point, but in a C neighborhood and the headache involved just wasn't worth it.