I know that I can write my travel, supplies, and food expenses off of my taxes while on that trip.

Cut your losses, and move on. 

Class C or not.If you have the cash available to swing the bat and are clever enough and have the experience to make it work, a shark food deal can improve your lifestyle.But what is shark food to one person could be biting off more than he chew to another--without a war chest of touchable/spendable cash.Which is what I mean when I say cash is king.just my 2 cents. 

We all have a limited amount of time to work, and there’s a constant push to maximize that time to earn as much as possible—so we can enjoy life beyond work.Most people work to meet their immediate needs—food, clothing, and shelter.

If you're going for non full documentation loans then there are other methods to qualify as well (rental income/ bank deposits/profit and loss/no income/etc) but these loans have higher rates and costs typically.

@Gary - The first letter is a more "I'm so sorry for you loss, and I know firsthand just how difficult this is".

And I never saw a Whole Foods or Traders Joe's in a D area.

@Robin Thornton Whatever calculation you decide, make sure to include your insurance deductible on top of whatever you budget for repairs or vacancy loss.

I am guessing you are a Real estate professional and can do cost seg to take a bunch of losses for the new construction cabins that you intend to keep long term as rentals?

This property is going to be a money pit for a while, but long game will most likely show a profit or at least not a loss.