If it's a loss its a loss, maybe I can write it off on my taxes or maybe our story saves others from a similar pain.

>>Here is what you need to do:- Prepare Worksheet for stock gain and loss sales and 8949, the worksheet is available from brokers , it's another form that calculate cost basis but it's not tax form.

Your state laws control, but the loss value to the materials will be based on fair market value.

My quick analysis had the added cashflow taking several years to recover the cost of furnishing the unit on top of the added management required for a short term rental.

May want to look into NonQM loans, such as a profit and loss only loan, 12 month bank statement loan, or 1099 only loan if you have trouble showing income 

Whether it’s hurricanes, tornadoes, wildfires, or just flooding the losses the insurance companies are seeing over the past 5-10 years are huge.

These policies are typically more expensive and cover way less in the case of a loss.

Cut your losses admittedly I dont know your market so ..... 

If they even try to attempt to recover anything through a court of law in Paraguay, good luck to them!

If there is no coverage, the question becomes, what is the value of loss taking into consideration depreciation?