You lost your buyer @Howard ? That sucks
Meh.
Personally I'd suggest not becoming a LL if you can avoid it. Sell at a discount, buy at a discount.
Cant avoid it. Dream home found. I'm sure you're right, but at least it will be an experience.
So what then? Just sell the place. Or are you using a BTL re-mortgage to extract the equity you need?
If the market is so bad, can't dream home owners wait for you to get a sale?
@Hovis started
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Meh.
Personally I'd suggest not becoming a LL if you can avoid it. Sell at a discount, buy at a discount.