I think mine cost 1800 for a 400,000 LOC, but I'm a noob and may have got a bad deal.

And are the DIY folks including the costs of their labor or are they only counting cost of materials?

But if you want to maximize your deductions now or plan to sell the property soon, then using it now could be better.Also, if you or your spouse qualify as a Real Estate Professional for tax purposes, the losses could offset other income, like your W-2 salary.

@Kim Huard ah the age old question of to sell or hold. 

@Albert Johnson sounds great, but wholesalers will lock you into a contract with the hope of selling it off to someone else and pocket the difference. 

(Sale price - selling costs) -(purchase price+ purchase costs)- renovations = taxable gain. 

Quote from @Keira Hamilton: Here are 5 lessons I learned from selling my laundromat last year that can help you as a prospective business buyer.Lesson 1️⃣ - Listing sites can be a legitimate way to buy and sell a business.I will often hear people say that they’re not even going on listing sites because “they only have bottom of the barrel listings,” but this has not been my personal experience.

Quote from @Lee Ripma: @Sean Pedeflous - I have not personally used this company but they have an algorithm based rapid cost seg which is similar to the two others I have used, KBKG and DIYcostseg.com.

@Jeff Nichols There is no difference then buying or selling with an agent. 

Based on the question, I'm guessing you are trying to get out of a deal and you would have to come to closing with cash because the property isn't worth what you paid for it.Yes, you can probably get a higher price by selling the property subject to.