If you need to sell a property or two to save your finances, buyers dry up, lending gets tougher, equity gets wiped out.   

I told my tenant the plan and he said he thinks it’s dry enough and liveable and does not want the work done and himself potentially displaced.

Purchase price: $650,000 Cash invested: $75,000 First industrial development, project consists of 2 warehouses with a trailer drop yard for indoor storing of dry goods & refrigerated

You guys could also explore having her put your funds to work, if she has excess demand beyond her current stable of private funding sources

Here's a breakdown:Taxable Income Calculation:The portion of your rental income that surpasses the combined sum of depreciation and deductions contributes to your taxable income.Tax on Excess Rental Income:The excess rental income is subject to your regular income tax rates.

The worst that’s ever happened is getting stuck with an excessive water bill.

The excess production gets placed on the grid, benefiting your utility (basically you become a free energy producer for them).

Dry the area thoroughly using fans and dehumidifiers to prevent recurrence.

The issue is, washer and dryer combo (not the stackable, the one where you can wash and dry without taking out) is my only option for now since the unit does not have vent.

You are required to calculate depreciation.If your net rental income is negative and your income is above $150,000 and the property is classified as passive, the excess loss will be carried forward to the following tax year.