Ive owned in Petworth and did very well.However you also have to look at development in the area as building of new residential units can soften rent prices sometimes.

While we can "make things work" right now (we built losses into the budget when we moved), a softening of the economy would hurt pretty bad.

Kick the emotional attachment to the curb as this market can correct and your 6k negative (if that factors in repairs, vacancy, etc) will be nothing if the market softens and the you are stuck.

I'm not real sure why there seems to be such a softening, but it is definitely happening.

As long as your buying in the right spots you can weather a storm if the market does soften and even raise rents in certain situations.

I short sold my primary residence one time for a loss of $136K and was still able to use a VA loan on my next home purchase.If you decide to sell, look into other ways to soften the $15K blow at closing, work with your realtor on commissions and maybe ask for help with the closing costs from the buyer.  

The well water was terrible before I put the softener on.

It just didn't seem to work in the current softening market of California at the time, and certainly wouldn't work now that my area has lost 48-50% in value.

In fact, make that a block of water softener salt...

I have a few and want a few more, sensing slight softening in prices.Okay: the property taxes on my homestead (14 years in residence) increased *dramatically* this year.