Advice on a languishing flip in Lexington.
I bought a house in April I had intended to be a rental. It was larger (4/3 2500 sq ft), in a really nice area and not really what I typically consider a good candidate for a sfh rental but I bought it because it was priced 60k under market and needed minor cosmetic things totaling about 10k. The market was super hot and stuff nearby started selling like crazy and I could make 80k or so flipping it by investing an extra 7k in some stuff which I did. As soon as it hit the mls the market immediately softened. I listed it for sale about 45 days ago and We've had a few interested parties but they want to offer me 20k or so below what I'd really want to sell it for (I own it outright). At this point I feel like my options are: 1.lease to own, which I have someone interested in, 2. Short term leases and 3. Rent it out as normal for a much lower cap rate than I'd like and sell when the market improves. Or I guess 4. Sell it for less, learn a lesson and move on.