Rental losses are not self-employment income losses - so they don't offset the assessment of that 15.3% / 2.9% / 3.8% level of tax.Here is your answer!  

I have been considering reaching out to the seller to see if they are still interested in selling the property and just this week I found a Facebook marketplace posting from the seller trying to sell their home off market because “it became too much for her to maintain alone”. 

Ask the people in Florida who now have sky high insurance and mandatory unplanned assessments, how much value having a paid off property is. 

Owners were charged an assessment (several thousand dollars) in 2023 to put into reserves, as per the new rules after the Surfside collapse.

@Dallin BlankFoundation issues are common in DFW due to the clay soil, but many investors still profit by knowing how to assess and negotiate these properties.

If purchasing new real estate as part of your reinvestment, a cost segregation study can maximize depreciation deductions, offsetting future taxable income.For effective planning, assess how the sale price is allocated between real estate, tangible assets, and goodwill, as this determines the tax treatment.

OPI would assess your fire potential first.  

We bought a property that we feel is assessed by the our local government too high.

Instead of keeping them, I'd look to sell them and buy something more suitable as a long term rental.If you want to know why I have such a strong opinion on this, just google the following: - HOA Special Assessment - Florida Condos 2024 - search for news on the new laws - Zombie Condos

Tax-wise, rental income flows through to your personal return in either case, but transferring the title later could affect depreciation schedules and property tax assessments.