They cut across the board.

I have kind of a long complicated story that I’m guessing nobody really wants to hear so I’ll cut to the chase.

Pete,Mortgage rates are falling fast and the FED meets September 17th-18th and its a 99.99% they will cut the FED rate by .25. 

I know Investors want to remain hopeful that things will pan out, but sometimes you just need to cut your losses and move on and stop the bleeding.

@Christine House This can be the downside with investing in properties that have a HOA (sometimes they have a max capacity of how many rentals can be within the HOA, what type of rental they can be, or they can cut off rentals all together at anytime)If you have family that lives in the area, that could be a better option temporarily until you move it on into something else that can work for what you're tying to do.

However (I'm an insurance agent not an attorney) the legal wrangling of the PM not taking a necessary action could set up a situation where the insurance carrier pays then subrogates back against the PM company for their inaction so the property manager should also have appropriate general liability coverage for their business.This next part can change by state and insurance carrier...Being named as lienholder or mortgagee can set up the lender being involved on the payout of any damages - say there is a fire the checks cut for damage could name the insured and lender so both parties have to agree how those funds will be used.Some carriers have a rule that if the loss amount is under a certain dollar amount the check is only cut in the owners name / if the loss exceeds a threshold (say $25k) the check is cut in both the owner and mortgagee names.Being named as loss payee is literally that - the check is cut in your name or both the insured and your name. 

How long do you wait out a market if there is a decline in rental prices before cutting your losses? 

If it cuts too much into your profits, look elsewhere.

Check out the cuts next time you're in one of these houses, they are usually flawless.

Took a 20k pay cut.