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!

If it turns out all the value of your business is in its real estate you can certainly do that.

The one performing is retail strips Fund.Long term I anticipate that 2 of my three MF deals will still turn a decent return (not the heyday level returns, but still high single/low double average annual return).  

OK Thanks Chad.. yes now that you clarify that and I also work in the low value asset sand box but only to Investors who have money to turn them around I would never count on those owner occ's to cure at least at any large % to easy to  walk  and the properties as you mentioned many will be functionally obsolete and economically obsolete so they turn into your basic zombie house that local wholesalers go for ..

Like every year can I buy a primary and then turn it into a rental?

I was really picky on choosing my first property, I was looking for cheap but nice and after waiting a couple of months and going to many open houses, i finally found this gem, I think I need to be pickier with my properties, so they can turn put Luke this one and cash flow.

BP Real Estate Podcast producer here.

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I'm almost tempted to turn them over to a debt collection agency because a buck is better than nothing.Cheers.

This not only secures your cash flow but could also turn a problematic tenant into a reliable one.