Gambling works out fine for some people. 

I also bought 2 acres of raw land in WA state that was a good location on a highway, and gambled on having to get tests done, etc.  

Worth the gamble in my opinion.

He became a devout born-again, ditched all his gambling buddies and started spending all his time in church.

I guess the main reasons I’d want to keep the house are 1) ego - to be able to say “I own a rental property” and 2) hope for things to magically turn around and one day sell for profit (gambling...)What would you do in my shoes?

I see it as a form of gambling. 

The prices are amped up because of off shore investment as well.  60,000 units.   

You're gambling for a chance of appreciation with lesser cash flow.

Drugs, gambling, prostitution all pay in cash (I have had all the above submit applications).

I think I could pony up and tough it out in a less desirable area if I had a feeling the neighborhood was “coming up”, but I’m not sure South Dallas is or how long of a game it is, so I think that’s why it feels like gambling.