Rehab went over budget, now stuck.

[Caitlin Jones]

Attempted to rehab house to turn into rental. Everything we uncovered just kept adding more and more to do. House is now down to studs and needs at least 100k more work. Should I just sell as is and take the loss? Is there any creative lending to take advantage of without getting completely hosed?

[JD Martin]

Quote from @Caitlin Jones:

Attempted to rehab house to turn into rental. Everything we uncovered just kept adding more and more to do. House is now down to studs and needs at least 100k more work. Should I just sell as is and take the loss? Is there any creative lending to take advantage of without getting completely hosed?

 No good way to answer this without hard numbers. How much did you pay for it? How much is it worth after rehab? How much can you sell it for in its current condition? How much will it rent for? How strong is your rental market? ETC. 

*Usually* - and this is a real generalization - it is better to complete a house than sell it torn to shreds. Your market for an incomplete house is severely limited and most investors are going to want discounts to take on a project in progress.