I would consider adding loss of rents coverage.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

Putting that amount into it will only increase the loss.

You don't mention if that's the case, but I thought I'd bring it up.You also won't be able to recognize any loss on the sale if that's the case.

Tax free appreciation and rents significantly trump the loss of depreciation and custodial fees.

However, there's a loss on the 2023 Tax Returns, and Net Income is $45,000 in 2022 (Client has lots of writeoffs) What loans could I use that only consider:- Bank Statements - 1099s - Credit Score Please contact me with options.

.), how litigious is your state, your own loss history/ratio as an individual investor, the carrier's overall loss ratio in a certain state/area, the deductibles you've elected, etc. 

There are also other new construction homes on our street facing the same issue.So, I’m kind of stuck with this property, which is why I’m exploring ways to cut my losses and exit cleanly.

These days too many people have too little coverage in case of a rebuild so you do want to make sure you understand the true cost of a total loss.

After some research online, I am reading that the cost per square foot on a gut renovation of this nature in Stamford CT is anywhere from $150-$350, which is ultimately not very helpful, because at $150 per sq ft, this is a very appealing project with a total profit of ~$175K (46% ROI) and at $350 per sq ft, it very much isn't, because it would be a net loss of 83K (haha).QUESTIONS:What can I do refine my estimate a bit given that I am not allowed to a formal inspection on the property?