@David Woodside The 500-hour rule allows you to treat rental losses as active, enabling you to offset other income and reduce your tax bill significantly.

If a unit does not having a living room (or the 2nd bedroom is used as a living room) and the unit does not have a shower, not only is the rent you advertised not feasible but why not point these major issues out on our walkthrough? 

Evaluate the situation to see if you could have done anything differently to mitigate the loss and implement changes to your processes, but know that this happens and hoepfully just not too close together. 

We have life time losses to uncollectable rent/financing payments to prove we back up this claim.   

Once again, I had to ask my family for financial support—a daunting task after the first loss.

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

I can release my properties without much loss if I have to. 

I would be happy to discuss structure and feasibility as well as insight into my personal finances/personal stake into a deal with serious lenders/prospects.Even if you are reading this post and are not a lender but have valuable insight or experience with flips in Charlotte's market, please don't hesitate reaching out.

Nearby, Seaside Oregon is another majestic, highly requested and feasible vacation destination for STR investment.

If you don't want that, I would sell it or put it into storage (which may not be financially feasible), but long-term renters are hard on furniture that is not theirs.