@Chris Grenzig  The chart on Wikipedia is interesting, its showing the population gains/losses from 2020 to 2023. 

We shall see, I will update if I see a loss but again do not expect it.So my life has been consummed with putting together the 1st few concept drawings of my project.

The loss is for renters, who don't have the freedom to take advantage of EVs the way single family owners can. 

I know many people that have suffered big losses recently, but I also know many people that have enjoyed big successes in Dubai real estate. 

We have our Guide Book on the counter in the kitchen.People like to have something to look through, plus other guests leave flyers from places where they ate etc. with notes like, "Great food" etc. written on them. 

Depreciation typically results in a tax loss.

Check out this youtuber video about owner-occupants in areas of Florida having to sell at a loss. https://youtu.be/wpKpwUhPRrA?

Non-passive losses can offset non-passive income (like your W2).

Otherwise, weigh your options with estimated vacancy and remodeling time, but how you may be able to mitigate losses longer-term with the higher rents you'll presumably be able to collect with new tenants. 

I had invested in out of state RE in the Midwest before. buy & holds in OH that we ran into several issues with, incompetent PMs and lot of repairs required leading to losses and instability.2.