It ended up being the main water line to the house that was old/rusted/damaged.

A lot of our housing stock here has finished basements or in-law suites, so with something like that you can generate significant rental income for an inexpensive conversion. 

I obviously want to get the best tax benefits and write off the expenses for the house and repairs I have done.

Quote from @AJ Satcher: I am currently house hacking with an upper/lower setup - I occupy the upper.

Hi Randall-Congratulations on buying a rental property well back in 2020.I am sorry to hear the property is now cashflow negative $200 a month.Your question is should you sell or continue to keep it with the negative cashflow.Depends on your personal goals and if being negative $200 a month plus any unexpected repairs or vacancies is affordable to you, but if you can solve the negative cashflow by turning the property into a furnished mid-term rental, for example, your future self may thank you.To Your Success!

Whether that's through house hacking or just another set of units I hold, I plan to purchase again this year. if there are tips on how to build a trusted network of people on here, I would welcome that.

When I was 22, I did a house hack, and I highly recommend it.

Without factoring in tax benefits and principal pay down, you're $1800 ahead of the game by house hacking.

Lets connect and I'm in Texas focused on asset class of Assisted Living and senior housing.

Shoot me a DM if you want some help with finding a condo or house with a low rate that's on market.