Jobs will be revised in 2024 to show a net loss in jobs.2.

.✅ STR Tax Loophole: If your STR qualifies for material participation, your cost segregation study could help offset W2 or active income, unlike traditional long-term rental passive losses.

Proc. 2013-13, 2013-6 I.R.B. 478 (February 4, 2013)Report on Schedule E, not Form 8829Allocate expenses if managing multiple propertiesCaution:   those Home Office Deductions cannot be used to increase your losses!.

Even if you cover a slight negative cash flow in the early years, your investment is growing through principal paydown, appreciation, and tax advantages—far outweighing the short-term expense.The key is to shift your mindset: negative cash flow isn’t a loss, it’s a strategic reinvestment into an asset that will build wealth exponentially over time.

If they default, you’d likely have to take them to small claims court rather than pursue eviction, which can be another long and uncertain process.In these situations, I always recommend focusing on getting the property back quickly and minimizing your financial losses.

Anything else is luck and relying on luck is gambling. 

It is a real loss to not have a mobile access to the forums.

I'm just trying to decide if the home is worth fixing and renting or do I just cut my losses and tear it down and use the property for other purposes.

I'm making two assumptions here - it will take you a year to get the tenants out, and so you are cash flow negative for a year, and that year of negative cash flow is a lot less than the loss in sale price you will need to take to get it sold as-is. 

Negative gearing means that they use the losses against their taxes.