You now have a $1,000 loss and can use that in your taxes.

Some transport companies have house kats that can get off the road and onto the site for an additional charge or you can hire a third party if the access from the road is limited.  

It just shows up on your schedule e like a regular property.Other benefits are: limited liability/asset protection, reasonable minimum investment ($100k usually).Note that these do have risks just like any real estate and they are only available to accredited investors.

But if there is a job loss and can't pay then do the notice and or cash for keys program. 

K-1 losses, generated through depreciation and cost segregation, can often offset distributions during the hold period, minimizing taxable income.

It’s also helpful to know that a T-12 is essentially an income statement or P&L, which gives me a clearer sense of how to approach it.Your feedback on Yardi is interesting too—it’s good to hear that while it has its limitations, with some effort, you’ve been able to tailor the reports to suit your needs.

When an offer came in for 30 cents on the dollar, I decided bail out, so took a 70% loss. 

Quote from @Makan A Tabrizi: Quote from @Bruce Woodruff: Quote from @Makan A Tabrizi: I'm renovating a studio apartment with limited space.

It would have been a different story if we were selling at a loss or a very small gain, but we were happy with the profit we made from the sale, and more importantly the experience we gained, so all the time and effort felt worth it to us.

That’s the very simplified version but raising capital is always your biggest limiting factor so the more investors you can connect with the better.