Four unit property built in 1900 analysis help

[Jack Srimani]

Hi,
I got the document for analysis of four unit property which was built in 1900. The following shows the summary of the form 8835 (I believe equivalent of schedule E)

For 2008

Gross Rent 16500
Total expense 20400
Total loss 3900

For 2009
Total Rent 19500
Total expense 31000
Total loss 11500

The numbers above are approx.

Also currently out of three working units only one unit is having tenant. While the other two are getting evicted due to non payment of rent. I have posted before in details about this four unit property few days back which had wonderful advises with various aspects of the property. To me this looks like a money pit. To me it looks even worst now as the rent collection is just 450 from one unit. I would invite your opiniion about the prospect of this property from investment standpoint. I just want to make sure I am not missing any 'potential profit' by analyzing the current rent situation and the last two years schedule E reports.
Thanks