You might be referring to income / expenses that are reflected by cash.Cash you receive from rentsExpenses that you pay out such as insurance, interest, taxes, etc.You may not have included depreciation expense which would bring your taxable income down further.It may be possible that the negative taxable income would bring your taxable income down.

If you're negative and looking at potential deferred maintenance I'd sale it and enjoy the memories. 

Most come out ahead over an extended period of time by buying better quality assets where they perhaps have to leave some capital in the property but find themselves able to sell for real gains or refinance out appreciated equity and scale more effectively that way. 

I don't mean to be negative, but would like to be realistic.

I don't work on houses, but I have to use B and A-basis values for material strength which in effect means the real material will end up being 20%+ stronger (depend on the material).  

Any insights from your experience, whether positive or negative, would be greatly appreciated.The attached link explains the current situation with the Detroit Housing Commission (DHC), highlighting that they are severely understaffed and have limited communication with both tenants and landlords.

Any tips on targeted marketing, effective lead generation, or even some "outside-the-box" tactics?

Start small, network with other investors, and use tools like BiggerPockets calculators to analyze deals effectively.

Simplifying to a single operational entity (Series LLC) for rentals and management can effectively meet your goals while minimizing costs.

Not too shabby for land appreciation.That said, I’d keep an eye on the Elon Effect down southeast.