Most investors I work with do either a regular refi DSCR loan or, take up to 75% or 80% of equity out of the home through a cash-out refi. 

You are way up in the panhandle which is less Florida and more towards Alabama.

On June 28, a second notice to abate public nuisance and an order to show cause was issued, requiring the seller to appear before a hearing officer on July 16, 2024.On July 16, when no one showed up, another notice was issued for timely abatement of the nuisance, giving 30 days, until August 15, to repair the heat, fix the plumbing, obtain a fire rehab permit, and receive a final inspection.The property was listed for sale on June 10, 2024, nine days after the seller received the first notice.

Another consideration would be to look at it as a start-up expense if it's regarded as a trade or business (can deduct up to $5,000 immediately for eligible start-up costs).

We have had two different contractors try to fix using various types of cement/epoxy while digging up outside area and they can not seem to get it right but have decreased the water a bit.

Get ready to be a sponge on here and soak up all the knowledge.

Or this could end up being the dream home after all rehab is completed who knows?

Thats ground up new construction prices just about.

While mortgage+ taxes may be similar to rent, you are not paying down the principal early on in the mortgage and closing costs on either end are likely to add up. 

We have a lot of money tied up in the unit and would like to find a rental unit the we would consider living in at some point with a house hack option/ADU and or a home that has a better long term appreciation potential.