I would get the facts from your lender and see what it will cost & how the numbers would look if you were to re-fi the property.Also, it never hurts to protest your tax valuation to see if you can find some savings.So: Call your bank, see what your numbers would look like with a re-fi.Shop for insuranceProtest your taxesLook for a new PM/evaluate your rents vs market rent.If you think you can bring the property into the positive range, after all that is done, then go for the re-fi.I would avoid holding anything for negative cash flow unless you have tons of money, you can't afford to hold too many negative deals for too long before you end up broke.Just my two cents worth.  

I want to give an update on this as respect to everyone who commentedTurns out she was in Jail for a week for protesting (I find hard to believe)Rent was paid via eRentPayment on the 1st, come to later get an email from eRentPayment (on 4th) stating the funds are being returns as the routing/account number she provided were incorrect.

The fellow refused to pay the charge and closed the account in protest.

I can see it now, "Defendant, why did you think outside of the box for this white Anglo Saxon protestant male borrower but, didn't think outside the box for your black African widowed female borrower"?

You can file a protest with the county board of equalization on the tax assessed value (it might have a different name in Illinois, but that's what it's called in Nebraska).

If a property's square footage has been under-accessed by the county appraisal board, are there substantive risks in the board identifying this error and increasing assessed value while in the process of reviewing an appraisal protest? 

Then, bookings came back up...but, then the protests started and we are back to zero bookings for the entire summer.We are in the process of looking for flips and buy and holds here in Michigan to go full speed ahead with investing and we are looking at all of our options.We can:1. 

G&L isn't far from my office (in Alameda) and that's where the rent control protests always are.

The one OJ Simpson grew up in (SF) was on Protero hill thats now high end condos .City of Seattle has been hammered by protest and now some of the downtown apartment developers are being forced by market conditions to sell out to the City / state at huge loss's and those are going to become public housing. 

And remind me how many are out shaking the gates protesting and demanding a change of this global order........