I actually sold a Class C a few months ago - I saw the writing on the wall after one Class C, very likely no capital gains after all my passive losses.

Lol  Just cancel it then and walk away :)  take the write off at the end of the year.

Quote from @Ryan Hakes: @Jay Hinrichs Incidentally I heard about this from an ad on Facebook so came here for explanations and comments as the ad was clearly intentionally ambiguous and designed to put you into a marketing funnel.Incidentally, it's perfectly acceptable to write into an agreement that earnest money shall be due 3-5 banking days after acceptance which is enough time to use your end buyers non-refundable deposit (except for free/clear title).

This means you'll want to "write off" expenses related to a property you have in service because if those expenses don't benefit you this year they could in the future once you sell the property.We can get into a lot more details with the "if" "and" or "buts" BUT I think this would be the "simplest" answer without diving into your specific situation here.I hope this helps! 

@Jason MonacoQuestion for your cpa but if you were to write it off and did get something then you would have to claim that as income so probably best to follow whatever they give you for a k-1Did they give out k-1’s last year?

In my free time, I like to play pickleball, bass guitar, and I write real estate based articles on LinkedIn.

In that case I write off the lost rent as cost of doing business, but I prefer that to the expense and hassle of an eviction, which typically ends up costing us more and takes longer, even though Milwaukee is still pretty landlord-friendly.I have also done cash for keys, but typically very conditional. 

You want to put everything in writing and be very clear about expectations and responsibilities.You also need to verify the remaining tenant can afford the rent.

Write in detail any last steps (like site cleanup or payment) that need to be completed.

So before i try to write it all down again, just letting you know im on the same boat.