Talk about regrets.In hindsight, $20,000 is a helluva lot cheaper for multiple lifetime access for me & my family than $500,000 losses gone with the liars and thieves of this world

Unless you're getting family memories and like using the place then it might be time to cut losses and move to a new investment. 

It's been on the market for a while with no solid offers.I'm facing the decision of selling the property at break-even or potentially a loss, or renting it and waiting for a better market.

An LLC is going to help you lower your taxable income if it has losses.

I’m still going through the learning what questions to ask phase.1) profits and losses?

Don't start buying the cheapest thing you can find, you'll end up spending WAY more- especially in a MFH, you'll be multiplying your losses. 

You'll be viewed as having influenced the borrower and causing the loss, if you attempt to foreclose it then may appear that you did so to take a property.

My vision is to invest in coliving and section 8 housing.

asset worksheets for each depreciable item - between 3 and 30+ pagessupporting statements for line items - between 1 and 10 pagesautomobile expenses worksheet - between 2 and 8 pagesForm 1098 worksheet(s) - between 1 and 4 pages per mortgagestate-specific worksheets, MAGI worksheets, passive losses worksheets, and a whole lot moreBy the way, including these extra worksheets will not create more work for me, they are already inside my tax software. 

The vision of this program is to help the investor determine if it is a viable file AND to monitor the property’s investment value after purchase.