Getting out of bad deal or stick around?

[Vahid Mostafavi]

I got into a bad deal years ago (with little real estate knowledge), which had created negative cash flow every month. The price of the property in the area has also depreciated and is not expected to up soon. I know better now how to invest and what deals not to get into, but this old deal is draining cash every month. Should I just accept the losses and get out, or stick around, try to make a bit more cash flow (or minimize negative cash flow) and make equity and hope for the best?

Does anyone have any similar experience?