Some recovered and others were unable to get back in the game. 

Appreciation is just the cherry on top.The last few years Toledo somewhat caught up with appreciation but I believe we are capped now.It's a slow moving market and always behind the rest of the country.There is just not enough demand/infrastructure growth like in other markets to support continued appreciation.Historical data shows the Toledo market appreciating at the pace of inflation which is nothing to brag about hehe.IMO, it's a cashflow play and you should consider building a larger portfolio because it will be safer.Owning 1-2 properties can be a "hit and a miss" and really not the providers or PM's fault.There is a high likelihood of turnover so it's important to build a larger portfolio.If you experience "drama" on 1 or 2 properties, the other 4-5 are performing and can subsidize any losses incurred on the few that temporarily aren't performing.Wishing you much success

You have an unrecorded operating agreement giving you 99.9% of the income, assets, losses,etc.However, this is probably overkill.   

Even in 2023 when everyone in real estate suffered major losses, exp returned a profit. 

I pay water on a few of my properties and you can charge some of it back, but I would assume that this is something that you will not be able to recover in your underwriting. 

Quote from @Bruce Cook: You should hire a professional property manager before you make a real mistake that costs you tens of thousands in losses.

Can your income sustain the loss and when will it cash flow? 

You can specify the coverage level for the dwelling, household furnishings, loss of use, liability, and medical payments to others.

Hello,Can I include rental loss in my tax filing for last 3 months of 2023?

If you’re set on taking the loss and speed is more important, try Opendoor and offer pad.