Having an or multiple LLCs helps keep the finances separate should you have a loss.

Year 1 is probably a loss though so that is something to consider.

Hey Nitesh, so sorry for your loss.

The rental might be vacant for a month,(8% loss) or a tenant might not pay for a month while you pay to evict them.(8-16% loss)  A $1,000 appliance/water heater, or a $8k rook or hvac unit might go out.(5-40% loss)  You should be paying a PM 8%.

All cash costs, and negative CF is a loss, must be recovered before you can make a profit. 

If you can hold on till first part of January the showings and everything else should pickup.This would be my action items: 1. hire a new agent that can sell the place, and get you numbers are rent and selling and sell the place. 2. be honest on the numbers you can get on an ARV so that you can sell it 3. start to get the conversation started with a couple lenders on what these numbers on refi would look like for you and this property 4. my suggestion would be to refi/rent before selling at a loss because if numbers work you can hold for a couple years then sell, but this is dependent on your cash position and liquidity of your situation. 

Maybe even failure to take full advantage of an opportunity, resulting in a loss of potential profit or benefit.

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They do not just stop paying because there is a door knob loss, or a smoke detector missing a battery. 

Did they only cover this cost once the eviction process was complete and the final loss was assessed?