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I bought & sold houses for a number of years. “Cash positive” doesn’t mean much, only sounds like it. It’s in evaluating the risk of loss that an emotional boundary be set. No easy way out (no one else able to afford rent you need, etc). What then?
THAT is how to look at the risk.
Finish-out is the most labor intensive. What deadline can you set?
Indeterminate schedule (ready for sale), and wishful thinking about today’s economy continuing indefinitely, aren’t solid.
If others passed on it, there’s reasons why.
The spur to action is what matters.
I made my money the day I bought them. The plan was already in place including dates and dollars. It does not matter, does not change anything — necessity of boundaries & plans — if one intends to keep it.
Part of the “plan” is always landscape. Almost always ignored. Boobus Americanus thinks only of video screens. Take some estimates BEFORE you buy: A plan itself, then what’s necessary to implement that.
Dollars are just value markers. Any market can collapse. So where’s the value? (Unlikely to be the air-conditioned spaces).
Go to the Appraisal District Office and find the appraised value circa 1992. THAT is the likely “real” price. Can you live with it?
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