side note, I am new to MHP investing, and I'm also thinking that working with a lender will make sure my sure diligence is thorough.thanksjosephI think your analysis is incorrect.  4 unit MHP typically operate at a loss, not a $30k profit.  

If you are an individual that had a property loss (including personal property) then use the first link for FEMA.The second link is for business owners…and yes, this includes those of us that have rental properties.

Appreciate the sentiment Katherine, my loss is your gain!

Cash buyers are often vultures who will swoop in with an offer while you are still dealing with your loss.

I, personally, have owned “affordable” rentals in other areas, which appeared to cash flow relatively well, only to sell them almost 2 decades later for a loss or about even.

This post is for the STR investors who are looking to take advantage of the STR tax loophole which allows you to write off paper losses against your active income.

Buy out the properties mortgages and sell it for a loss and try to minimize the total loss?

Is there any options other than cutting my losses?

For most parcels this means removing trash, bush-hogging, tilling and planting a food plot to attract wildlife, posting no-trespassing signs, etc.  

By default, the tax loss from the rental can't offset your W-2 income because passive losses can't usually offset non-passive income.