I can help you dispose as well if I'm not interested. 

That is your estimated income.Minus the costs to run it: rent, insurance, automated online services, cleaning (although guests usually pay for this) utilities, internet, disposables. 

I figure I might as well ask if the families (who are both from out-of-town) want to dispose of the property in the most painless manner possible.  

If you have other passive income from real estate or other passive activities, you can use these losses to offset that income.If you don't have sufficient passive income to offset with the losses, you can carry forward the remaining losses to future years until you have passive income to offset or until you dispose of the last of your passive activities.Offsetting Other Income:Passive activity losses are generally not allowed to offset non-passive income, such as wages or dividends.However, when you completely dispose of all your passive activities, you may be able to deduct any remaining unused losses against non-passive income.

We include common areas, backyard, front area, noise regulations, roof access regulations. late payments, fines for pet waste, garbage disposal etc.

Our income is modest as my wife works part time, let's say around $120k/yr, not a lot of disposable income but we're comfortable.

We never had disposable income when I was younger.

However, as a novice in this field, I'm seeking guidance from the experienced members of this forum.Background:Age: 31Business: Growing rapidly with substantial disposable income that isn't needed to grow or operate.

Garbage Disposal Issues   Quick Fix:     - Use an Allen wrench to manually turn the disposal

Identify what you can afford based off disposable income to invest, find an area that fits that criteria to where you can invest in.