You could offset some of the purchase price through a selective harvest that won't destroy the recreational value you seek from the property. 

Purchase price: $330,000 Cash invested: $1 The pink Mercer Street Cottage was built in 1914 and a gem of the Historic Savannah Foundation.

If you have a taxable brokerage account, are there opportunities for tax loss harvesting?

Similar to their resolution to water conservation, Los Angeles instituted rain harvesting tanks as a requirement to any new roof areas built.

Thoughts on pink cast iron tubs?

If you are taking a harvesting strategy which it appears you are; I would take it out and put to work in other properties increasing your equity buildup.You also have some interest rate risk at the end of the 5 year term which could see your cashflow shrink some.

Where you're going to make your money is on the long game because in the beginning when you don't need/want that money for your own sustenance (because you have a good job), you can be rolling every dime the thing makes back into the "business" instead of harvesting dividends.

Do you have any other investments you can tax loss harvest to offset the gain? 

Here's another fun one for the Pink Floyd fans out there (are there any?

It can be especially effective if you had lived in the home for the 2 of the 5 year requirement, rented it out the other 3, made improvements to reduce your taxable income, then sold the property and harvested the capital gains.At some point, however, you have to just accept that if you are making money you are paying taxes.