Drama, late rents, damages, excessive maintenance, evictions, etc.

Termites feed on wood, and they usually get into the buildings with areas excessive moisture (leaks, frame in contact with soil, etc).

So the issue here is clear, it seems out of state investor that has excess equity is repurchase a STR in TN/AZ market which at the end, increasing the supply and reducing the general revenue in the area.

keep in mind you dont get title insurance for wholesaler fee's in excess of the purchase price on the contract.. so folks are taking a huge risk when they allow wholesalers to tag on 20 to 30k or more..

In addition, you never had an appraisal, the property is insurable, and on the “Statement of Credit Denial, Termination, or Change”, the lender declares that the one and only reason for your Credit Denial is “Excessive obligations”.

Are you sure you cannot cut any excess spending out of your budget and make lifestyle changes to meet that goal quicker.

With all that being said, all I can say is if you and your wife make $150k a year and you have no savings because your buying this or that, paying off debt excessively (which I commend), etc, etc; you both may not have the best grip on your finances as a unit.

Based on the numbers I saw, its an excessively negative performing propertyafter all the taxes, insurance, fuel, and annual repair costs, you have roughly 9100 left, before debt servicing.

There are some products that can aid in leveling the floor but they will put an excess load on the property. 

After that, payments in excess of the required monthly payment go directly to principle and have an immediate effect on the next months payment, ergo the cash flow changes in your favor.You can 'tune' your capitalization to the level you're comfortable with and then just let it ride.Personally, as a Buy & Hold investor and title QC into a Living Trust for our beneficiaries, I took an inheritance and threw it all at the balance and created a massive cash-cow.