So I live in the southewest US and own a piece of rental property (land and a trailer) in rural Florida. I own it free and clear. At one time I lived close to the property but haven't for several years. During this time I have rented the property out, with my father acting as my local representative to collect rent, coordinate repairs, etc.
My dad is no longer in a position due to his health to be a part of this marginally profitable and largely annoying investment. Everyone agrees we need to sell. I don't need the money but I sure don't want the headaches anymore, either.
And here is where I find my dilemma. This property (land and dwelling combined) is probably worth around $20k. (We are talking a very rural area here.) I had a rent to own tenant as recently as 3 months ago but had to terminate the deal. I absolutely will not do a rent to own again. Total nightmare for me. It's got to be a cash deal as I want to walk away - far, far away! - once the sale is complete.
I've also tried Craigslist to sell it outright. That seems to be a sketchy situation, too, that has resulted in several broken appointments to see the place etc. And no real estate agent I've talked to will put any time into selling this place. And I certainly don't blame them as there is little commission involved.
So how does one move a cheap property? I am thinking there must a be a target audience of locals in a given market - even small markets- that like to pick up and work investments like this, but I have no idea how to find them. Was also considering an auction, although I have no experience with that and am not even sure it's a solid option.
I would very much appreciate any suggestions/advice from anybody who has dealt with this issue. Thanks!