We really are breaking even as far as cash flow is concerned but would also be in a fine financial situation if we rented it back out and would just lose a month of rent.My wife and I both work W2 jobs and manage our rental properties ourselves. 

Plus its a non stop location for tourism Summer Camping, White Water Rafting, Rock climbing, 4 Wheeler/ATV, Hunting, Fishing.Winter - Ski, Snowboard, Tube, Ice Fishing, Hunting, Winter Breaks away from the Heat etc.

"Taking action" and breaking free from "analysis paralysis" cause many new investors to rush into bad, money losing deals.

Because of this, I'm forced to give all kinds of breaks and leeway.

I doubt there is a security issue with people breaking into windows "at the top of the building".  

Not being able to deduct interest on my HELOCs is nowhere near a make-or-break for my investing strategy.

(Yes, we knew they were old when we bought them, but you just don't expect them to all 'gang up on you' and break at the same time!)    

The intricacies involved in these post-foreclosure proceedings are not to be underestimated.Thank you for breaking this down, Sriv.

I've had NO interest in it, not even to inquire about when it will be furnished.My question is this: Do I take Section 8 or a lower rent for a year or so, and break even (the long term rent I could get would have me break even)?

Going to stop now as I am writing a book and not breaking for paragraphs or other grammatical structure and some of my old English teachers I helped invest, may read this.