Update: by the time we did repairs and other things to get this property sold, the net loss on it is $16,000.
One property we are trying to sell, has been an epic Fail on inspection. New roof needed, major electrical issues, grade problems around the stucco weep screed, wood dry rot, unsafe flooring (very old real saltillo tile elevated above other flooring), various electrical and plumbing things were not up to code, all have to be corrected to sell. Our first buyer backed out, and we are spending the $$ to hopefully satisfy the 2nd buyer. By the time we are done, we will lose money on it, but at least it will be done. Keep your fingers crossed for us that this sale goes through.