have you ever sold a rental at a loss?

[Bobby R.]

We have a rental w/ a bad rental history the past couple of years.  We have a PM and a tenant who has be evicted; 2nd eviction in 12 mos.  This rental isn't local to us since we moved to MD and currently rent ourselves.  This unit has been a money pit, it's upside down and it'll costs us $13k in CC to sell it.  

We want to buy a house w/ the NACA program which requires you to not own property. Have you ever sold a rental at a loss? I don't know of any creative way to get the unit out of our name and still qualify for the NACA program.

Any suggestions?

[Russell Brazil]

I've sold a couple properties at a loss. Sometimes you need to cut your losses, learn, and move on.