This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

I've read many of the BiggerPockets books like - House Hacking- Flipping- Estimating Rehabs- Multifamily Millionaire Book I and II- How to Invest in Real Estate with Low or No Money Down- Investing from a Distanceand even some outside of themand have been wanting to do something in Real Estate for awhile.

You can't charge extra pet rent or even a pet deposit because it's legally not considered a pet.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I just can't accept such a constant ever increasing loss, even if I can afford it. 

Platforms like Zillow, Realtor.com, or even tools provided by BiggerPockets can help.

I'm not even sure something like that exists.

Hardly anyone can prep properly, mask or dropcloth properly, cut in around trim and windows, get even coverage, etc. 

At some sales they will even accept payment the day of the sale during the auction if that property has not been sold yet. 

Collection agency turnover the case to attorneys rarely only when judgement is large and landlord is willing to pay heavy attorney fee, which can start at around $3000 for filing garnishment but even that doesn't go anywhere without a valid address of the tenant.