The best defense against rats entering your property is to seal off all entry points (holes, cracks in walls), remove food sources (dirty dishes, food left in trash cans), and water sources (like leaks). 

Just food for thought- It's not always in your best interest to provide all of the materials, negotiate too hard, refuse to pay a deposit, etc.

When an offer came in for 30 cents on the dollar, I decided bail out, so took a 70% loss. 

I love going out to try new drinks and try new food.

Backstory - we have an apartment complex that had a $339k loss on paper last year (I'm a 40% partner).

That still has the 50% use requirement, but can be used to create a tax loss. 

I would also send the tenant information about food pantries etc in the area.

If you are on cash accounting, yes you could do that.On the other hand, you are ignoring carry-forward losses. 

For practitioners in the real estate industry, the biggest challenge is not just the difficult work, high risks, or immense pressure, but the necessity to learn to let go of complete control over outcomes. Certainty i...

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.