For individuals in the highest tax bracket, this could very well mean taking over a 50% haircut on the balance via federal and state income taxes just to "get going." 

@Rich Hupper I was just getting a haircut the other day.

"I don't see why I should take a 1k haircut!"

Owner number 1 took a 58% haircut, AFTER JUST NINE MONTHS OF OWNERSHIP! 

tyty If you don't need the cash now, no sense in taking a $140k haircut, you can afford to keep bleeding $5k/yr for at least another 30 years rather than taking the painful hit now - in my opinion you will probably see something happen in the next 30 years and see the value go back up.It sounds like a great place with nice views

All these from talking with my stylist during my hair cut. 

Depending on when they bought and how well they operated, existing investors might break or take a haircut but its better than a total loss.

Just like don't ask the barber if ya need a haircut.

Try to get the note, if the bank will let you, you definitely should disclose it.If there are Real Estate Agents involved ask them to take a haircut to save the deal.But sell it... 8k is not that bad of a loss and at 600/mo it's only getting bigger.

-Software classes for organized book keeping-A few dress shirts for showings-Storage for supplies Do you guys go as far off to write off things as haircuts?