With a 1-BR condo, the appreciation lags well behind SFH's, but over the long term there's no way it will lose value -- it's near hotels, a major bar/restaurant destination, good schools, and a station that serves the city's best Metro line.

Now, I don't need this thing to make a profit - it's a luxury for me, and we enjoy staying in the winter and having a place that family can all gather - but if I did I would be losing my ***.

Think about going to see there office most lenders do the appraisal and when its done they charge you .. they dont have you send the money up front.. but maybe some do.but worse case scenario if they don't fund your only out 950.00 but many do this and also have non refundable EM thinking the deal is going to close and they lose that as well. that's why reputable lenders are very important to keep you from losing 1 to 5k on a fake lender or more  and again I have no clue about this company.. just say in  how the fake lenders operate and what your risks are 

The 5 percent you pay an agent to properly market a nice property will far outgain what you will lose involving someone who will come in and pretend they have the money to buy just to daisy chain it to every Facebook group in the area.

.- Contacting to the seller directly is un-ethical, this is not because you are by-passing the agent but because the seller is not a real estate professional, and he might disclouse things that affects him on the deal that will make the negotiation tougher for the seller, in which case it will be a lose-lose situation for him.- You should look at talking with a real estate attorney if you want to know more.

Then you will need to try to work something out with the foreclosing bank or face losing the property in foreclosure.

And updated bit on the Real Estate show Ep. 838 How to Not (Accidentally) Lose Your Portfolio to Lawsuits. 

So was this filed on schedule E and did you deduct paper loses against a W-2 income?  

1) Will you lose material participation in the cost segregation if your property is in a neighboring state?

If you take that into consideration, you are losing money on the property.