It doesn't bother me to lose some money on my place because I use it, I like it, and I'm working towards higher rates with some of the improvements, but I can afford the loss.

But, I’ve seen many people recover from similar or even much worse situations, and go on to have investment success.  

This place fell off a cliff in 2019 and never recovered.

In other words, the lenderwill only be able to recover the property itself.

Mainly, the LLC prevents a loss from spilling over into your other investments or your personal finances in many cases (though not all).

I would rather absorb the loss of rent than deal with any more passive aggressiveness from the current tenants and lose out on good leads as a result of that.I really appreciate each of you for taking the time and clarifying things for me.

Unit 1 will lose this small storage.We settled for $ 250 rebate per month for the loss of this small storage.And $ 700 rebate for the construction.

I made some elections about grouping by not grouping as I expanded and didn't understand the consequences (making material participation easier/when passive losses can be harvested/ease of filing) of that at the time.Also random question but do you have a sister Nicole?

They had issues performing because they didn't underwrite expenses correctly and as a result they ended up carrying alot of debt and losses.

@Bill HamptonNot a cpaBut you should have a profit and loss statement that shows all your profits and losses.