Of course we can cut our losses and switch.

Putting that amount into it will only increase the loss.

Most are being encouraged to buy Class B-minus rentals and below, but no one corrects them about their mistake of using Class A assumptions on these rentals:When a newbie gets smacked with reality via their losses, they then can only suck it up until time improves their mistake or dump at a loss.So, my question is, why can't we all do better and grow our industry with integrity?

There are also other new construction homes on our street facing the same issue.So, I’m kind of stuck with this property, which is why I’m exploring ways to cut my losses and exit cleanly.

A partnership requires three things to be successful - Experience, Capital and Time.It looks like you have the capital and experience but maybe not the time.I have my doubts about this working if you have a friend who has weak credit and a limited cash flow.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

This property gives me significant income, so losing it would be an extreme loss.

Repairing to sell might recoup some costs, but given the market and your limited funds, selling “as-is” is likely the best option to minimize further losses.

As firefighters persist in battling the blazes, many residents are left assessing their financial and emotional losses.

It boggles my mind.Sorry John Teachout for your expected loss hopefully it doesn't happen.