Or just sell it at a loss… I need some guidance here, I know very little about real estate investing other than I know I’ll be losing money after maintenance and paying a property manager.

If you continue using it as a rental but reduce STR activity below the material participation threshold, your deductions may become passive and subject to loss limitations.2.

To qualify, you must meet material participation rules (100+ hours and more than anyone else) so that rental losses can offset active income.

The liability coverage is way better, the building coverage is often better, and commercial policies typically cover loss of business income as well, which a homeowners policy isn't going to help you with.California + wildfire area + STR is super tough. 

Still, I think you'd find it difficult to find one that would be a good long-term investment unless you had another ~20-30 years to go, it's at least cash neutral, and you don't plan to hold it too long (to avoid too much investment loss and before you get to the point where it's unsellable because of too few years left); that's another way of saying that maybe it suits your cash needs in the near-term or is at least less of a pill to swallow than other options until you find something that's more of a sensible long-term play

.- Standardized Renovation Models: Establishing a clear scope of work for different property types can help manage costs and reduce unnecessary decisions.

@Ryan Johnston If your rental is costing you $75–$150 per month, weigh the long-term appreciation potential against the ongoing losses.

Because we have been in growth mode acquiring properties with closing costs and rehab costs our business has been operating at a loss on paper each year not having to pay taxes for the business. 

Those holding higher-rate loans should start preparing for refinance opportunities in the second half of the year.Scenario 4: High Inflation and Rising Jobless ClaimsIf inflation remains high while job losses increase, it signals uncertainty in the economy.

For example, if I send my son money for books, can I do so as a property manager fee so that this is also tax deductible.4) If my son, finds the monthly payment to be to much while he is in school and I end up shouldering some of the costs, how long per IRS rules can I carry a loss on the property.Any help would be greatly appreciated.Thank you.