It just didn't seem like the best idea since selling it, we would probably only get pennies on the dollar.

And then I look like the bad guy bringing $0.65 to the dollar for an out for them, because there too blinded to realize the other options are more like $0.45 on the dollar. 

While this might not fetch the top dollar, it could result in a quicker sale at a reasonable price.Consider Renovation Loan Options: If you believe the house has significant potential value once fixed up, exploring renovation loan options like an FHA 203(k) could be an option.

The US already has a "cyber" dollar.

So while the process of issuing a note is very "clean" on paper, it might get messy in the real world.I just bought a nice single family in a top suburban neighborhood and rented it out to the retireing baby boomers with 200k income for top dollar.

We have discussed a potential purchase but they are holding out for a high number but are unwilling to do the work necessary to get top dollar. 

In west coast 10-15 miles away, the difference between a new central a/c vs window or fans is about 60-80 cents on a dollar. 

I have done that before where I make offers down to the dollar.

Sometimes so high that even if I got the property for a dollar it wouldn't be worth my time.

Most sellers will just want top dollar, it only takes one outlier to make a deal.