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Updated almost 7 years ago,
Inherited property pushed negative-any options besides selling?
SFR rental in Santa Rosa, CA is projected to be $916 monthly negative. Rental income is $2400/mo. Operating expenses $1571/mo. Current mortgage payment is $1745/mo. Expenses include $240/mo paid to one partner for PM duties. Property taxes jumped from $1544 to $3420 every six months. Mandatory refinance after inheritance jumped mortgage payment by $200. Projected monthly negative for 2016 is $916. Only adjustable factors I see are the $240/mo PM fee to partner, $140/mo for yard maintenance, and rent. Eliminating first two and jumping rent $400 still leaves $130 monthly negative. Any other options? Thank you in advance.