If you plan to use the property for a month, you will likely not be able to utilize the losses since it will be deemed a personal use property.

My interest rate and purchase price wouldn’t allow for positive cash flow unless I charged an unreasonable rent—or put about $500K toward the principal, which isn't ideal.I’m a high earner, so I’m weighing my options:Take the loss ($60K-$100K), buy another house, and chalk this up to a hard lesson learned.Refinance, put more money into it, and rent it out long-term—even if it’s not immediately profitable.Invest my money elsewhere and try to make peace with staying here for several years or just move.Would love to hear thoughts from anyone with experience in real estate, financial strategy, or noise mitigation.

Short sale/Loss Mitigation applications with your agent can avoid foreclosure. 

I was initially very pleased to learn that all had been able to purchase multi family properties; I was not to pleased to learn that they all “wanted out”, but felt they were “upside” down and would have to take a loss.  

Is your Adjusted Gross Income over $150k where you can't reduce your income with rental losses?

.✅ Calculate potential profit/loss using this simple formula:📊 (Monthly Rent - Total Monthly Expenses) = Net Rental Income3.

But here are ways to reduce capital gains taxes:Deduct expenses (renovation, selling costs) in 2024 to offset gains.Hold for 1+ year to qualify for lower long-term capital gains tax rates.Invest in a Qualified Opportunity Fund (QOF) to defer taxes.Use tax-loss harvesting to offset gains with investment losses.Pushing 2024 deductions to 2025 won’t help much with 2024 capital gains.

you'll probably still need something long term like software as others have suggested but this was a thought i had... you could see the actual profit or loss from a tax perspective for each property.

.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

Set aside a big pile of cash or rely on a line of credit you won't be using.The oversimplified insurance concept is to pay a small premium to cover a large loss.