@Michael Plaks has a great post on this topic.2 - Assess the value of those tax deductions to you: The value of a deduction depends on (a) whether you're actually able to use it to reduce taxable income and (b) your marginal tax rate.As an STR, assuming the average rental period is 7 days or less, key items to consider are: (a) material participation and (b) avoidance of "excessive" personal use.

Focus on increasing earnings, reducing expenses, saving up, and investing. 

One of the impacts is going to be making it more difficult for guests to afford our nightly rates which is going to create pressure to reduce them.

That's 85% of the reduced list price!

Yes, they are more difficult to sell (the average homeowner won't be able to buy them, but other investors ARE constantly looking for apartment building offerings- especially the smaller, easier to manage ones, perhaps you reduce the rent for a handy tenant to be the 'maintenance guy', and a smaller complex he can handle in addition to his 'day job'... with multiple units, you get more rent money 'per door'- and if one or two is in transition (not rented), you have the others to make up the shortfall. 

Reduce inspection period.

We've since reduced the price to $995, but there haven't been any showings.

Discuss with your attorney whether it is in your best interest to reaffirm the debt.With a chapt 7 you have reduced your debt load and lenders know you can't file again for 7 years.

Marie there is not a permitting rule regarding the 7 day stay. we plan to reduce that down at the end of the season.

However, shortly after securing the property under contract, the lender notified me of an error on their end, stating that the property's is rural for them and hence mandates a reduced 70% LTV.