I’m totally new at this so searching for advice.

Since the cost seg study would just create an even bigger loss, it might not actually help you this year if you don’t have taxable income to offset.But here’s the part a lot of investors forget to consider—if you’re planning to buy another property this year, this loss could affect your ability to get financing.

To safeguard yourself and your investments, it is crucial to conduct thorough research before engaging with any lending entity.

Quote from @Steven Rosenfeld: I'm researching.

I am researching VA OTC loans in Southern California (Los Angeles County). 

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

@Dwight HenningRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

You did mention that this was a nice rental.

Long term rental What made you interested in investing in this type of deal?

It is why it was first on my top 5 of current risks.Feel free to DM me and I'll send you my 10 Tips for Wrap Mortgages along with a video from an attorney that knows this stuff.