I've accepted that I will take a significant loss on this, and have already learned a ton from it, but I would like to reduce the total loss as much as possible.

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

Moving forward, we’d like to unload our rentals and move the proceeds into syndications, however, we do not have the accumulated losses to offset capital gains/recaptured depreciation for our rental properties.

Or perhaps you have a DSCR loan on your rental properties and that keeps the fix/flip income (or loss) from affecting the DSCR calculation and tripping the covenant?

Cut your losses the first time they miss a payment and start the eviction process.

Cover for 150% of actual value and you are still out way ahead if you have a total loss.

The resulting first-year tax benefit was approximately $8,200 due to passive loss suspension rules.

Taking a property intended for a flip and turning it into a rental or vice versa have historically been viewed as the most common pivots but sometimes the best course of action is to sell, even at loss.

“As a result of the foregoing, the Company reported a net loss of $616,388 in the year ended December 31, 2020 versus a net loss of $68,202 in the year ended December 31, 2019.”

So in reality you are ALWAYS gambling in the stock market, yes, even with those big names that seem inconceivable to every drop and ESPECIALLY with those because most are so shocked and in disbelief when it occurs that it's only realized after your left with pennies on the dollar because you waited out a recovery that was never coming. 3rd: MATH and leverage.