Would you consider $50/sqft virtually worthless, or do I need to reset my frame for how cheap we should be buying this? 

Basically, we are resetting a lot of clocks to zero again now, so I don't have to deal with it in the future.

Depending on that refinance to both get a lower rate possibly, increase your rate but reset and extend your balloon period to say 7 years, amortize your loan back out to 20 or 25 years.  

That usually means they’ll either (a) say no outright or (b) charge you so much in points/interest it kills the deal.Couple thoughts:Refi + new HELOC: If you refi to roll the old HELOC in, your payment/tax bill goes up, but you’re basically resetting the deck and giving yourself a clean slate for a new HELOC.

@Blake ArmstrongHi Blake - I say the following not to discourage you, but to help reset your expectations.  

It’s also smart to get insurance quotes (with and without solar), check for wind/flood zones, and factor in a possible tax reset after closing.

If they refuse, proceed quickly with formal eviction so the clock doesn’t reset.

Now I have had some that were not broken and needed spoons and glass removed and the reset button hit, but this is not often. 

Quote from @Jules Aton:  I believe a re-set in expectations would be helpful.

I have begun to collect and really learn more about the art of Bourbon and have taken a break from reading books about  Real Estate for a few months to reset a little and have dove head first in to the world of bourbon.