Recovering From a Bad Investment
Hi All,
I am new to BiggerPockets but have been following the forums for some time. I am looking for some investment advice on the sale of a rental property I have out in Alpharetta, GA. The property is a single family home with a finished basement. The upstairs living area and basement are segregated, with a 3 bed, 1.5 bath in each unit. The basement unit is currently rented with a long-term tenant.
I recently purchased this property back in February 2018, but since then I have had a laundry list of issues with the property since I closed the deal. Some information during my purchase wasn't disclosed by my agent and I found out after the fact. There are high-voltage power lines running through the backyard of my house and I recently discovered that duplexes are not legal in Forsyth County. These facts came out of a refinance appraisal earlier this year after I purchased the home. In addition, there were a laundry list of repairs which I had to complete over the course of the year. Now I am in a situation where my top unit is having trouble renting, it's been on the market for 2.5 months. Needless to say, I am considering selling the house now.
Has anyone every dealt with this situation and are there any strategies that I could implement to sell the home faster?
Thanks