Quote from @Ellen Feiss: I recommend a face-to-face meeting where you discuss your plans and hand them written notice at the same time.The property is bleeding money.

As long as you are not bleeding cash you should be able to buoy the ship pretty soon. 

Best case, they get bailed out by market appreciation before the property bleeds them dry.

When leveraging your money, you will see bigger returns with appreciation, but if you can still get a little cash-flow so you're not bleeding money, that's the most ideal situation. 

Note: I know that it is currently bleeding but given the price and fixing it up a bit ,may be a good one.

Note: I know that it is currently bleeding  but given the price and fixing it up a bit ,may be a good one.

A year of management will cost you less than what you are about to lose with this one tenant.I dont want to reward her but I need to find a way to stop the bleeding… 

If the property is bleeding money every year from repairs, maintenance, or turn over you'll never get ahead.You can tap equity with a HELOC (challenging right now), cash-out refinance into a new loan (much higher rates), 1031 exchange, or sell (tax hit) but the numbers and property condition need to guide this decision.

If you keep forcing yourself to do something that grates on your so much guess what, it's only going to get worse, and it's going to make you a worse person, it will bleed over into other parts of life if it hasn't already. 

Yes we are bleeding.