Your perspectives have been incredibly helpful as I navigated how to handle the situation.Here’s how I just responded to the tenant:I expressed sympathy for their situation and the loss of their pets.

.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.

DIL is a voluntary foreclosure.It is a loss mitigation option you have to apply for and be approved.

Given the cash flow loss on the 7% property, I think I need to remove the emotion and make the right business decision for my portfolio holistically.

I am at a loss to explain why anyone would buy investment property in any of the blue states, namely, Illinois, California, New York, New Jersey, and Connecticut.

As long as you have PCF, this really means you have a clear property since the tenant is paying for the rest.Role of Equity - To grow from appreciation to a point where the growth is equal to the original equity, thus doubling it.When both things occur (order doesn't matter), I sell.Banking only on either CF or equity is a loss. 

Even if you rent at a break even or slight loss, if you could have 3 years of rental income offsetting your mortgage while realizing 3-6% appreciation, could be worth it, especially if you think appreciating for this area will exceed national averages.

Buckle up, and prepare for total loss, or an additional capital call or two in 2025.

However, the Cleveland area is a net population loss area.

Eviction costs surged and so landlords needed to increase rents to deal with vacancy and collection loss and increase their screening standards.Then the eviction moratorium.