I'm currently diving into some older BiggerPockets content from around 2015, specifically The Book on Rental Property Investing by Brandon Turner.

You have to pay fees, but you'll have a professional handling issues instead of bleeding money trying to figure it out for yourself, then you have your time free to pursue other things.

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

To go a bit further into what Dmitriy mentioned, since your IRA earns the income the tax treatment is specific to your IRA.

The issue is that if they say no, and no one else bites, I've shot myself in the foot. 

The best thing you can do is to get in touch with a few lenders and walk through your specific scenario. 

I chose this area for two reasons, the first is that the South Gate Entrance has the least issues.

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

My name is Jay I'm excited to join this platform as a new investor based in Charlotte, North Carolina.

It is hard to respond to this without fully understanding the issue and missing pertinent information such as what market etc.