If you or your spouse qualify as a 'real estate professional' and meet material participation regarding the property, the tax losses become non-passive and can offset other taxable income.Good convo to have with your tax CPA/EA who can consider your facts, circumstances, and goals.

I’ve had many weird circumstances in my 40 years like this where time and space have been precisely timed up to permit a “ window” ( pun intended) of opportunity for an almost supernatural occurrence to take place .looking back  I’ve escaped death on several occasions myself this way .

Your loss as a result.You can try to take the tenant to court to collect but based on the fact that you neglected your property I would suggest that you just do the necessary repairs and sell the property.

People who had bought more house than they could afford, or whose circumstances changed when the economy went south, lost their homes because they could not afford to pay their mortgages.

Best to speak with an attorney and CPA who can examine your individual facts and circumstances.

And in these circumstances, locking a 9% returning asset for 30 years doesn't seem a bad deal at all when I compare it with other potential investment opportunitiesAlso, tying up money is relative here.

Do not under any circumstances invest in welfare tenants.

There's always risk involved, and unforeseen circumstances, but using your lender as a resource can help mitigate that risk.

There are very limited circumstances in which it makes sense.We're mixing up terms heavily here. 

That’s a huge difference and these higher priced properties take more time to sell under ordinary circumstances