Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Real estate is an excellent way to leverage deductions and reduce taxable income.

$250,000 exemption is federal and deducted from the gain. 

(PMI effectively raises your mortgage APR and is no longer a tax deduction on a primary residence.)If you really want to invest, what short-term sacrifices are you willing to make? 

., To report losses from Hurricane Helene on tax returns, affected individuals should first confirm if the area is a federally declared disaster zone, as this allows for casualty loss deductions.

It's entirely possible that you can deduct mortgage interest, utilities, property taxes, insurance, repairs and other expenses associated with the portion of your property which is rented to others.

Governor Gavin Newsom has signed AB 2801, a law requiring landlords to provide photo documentation when making security deposit deductions.

If it's less, you’ll have a casualty loss, which can be deductible.

As other people have stated here, the answer is probably non-deductible to offset ordinary income.

Keep the money in a market, hopefully doing better than the interest they are charging on a LOC, I get to deduct interest against my rental property bringing the effective rate down and they turn around and and make money on my $$.