Purchase money Deeds of trust the bank could not get a deficiency judgement against the borrower in the event of a foreclosure.. 

Just look up Zen and the Art of Real Estate Investing in the events for Philly.

If getting properties free and clear is the goal, use the excess cashflow to paydown principal if you want - this is the most "safe" option as it will allow you to add more payments and also give you breathing room if you have unforeseen events (personal or in the portfolio).  

Hi BP, I just bought my first STR with two of my close friends/partners and I wanted to put a partnership agreement together to protect us in the case of someone wanting to exist or if an unforeseen event comes up.

I would advise to just pay the taxes in the event you can’t find a suitable replacement for the relinquished investment.

You will spend more in insurance to protect the various entities, all of which would be sued in the event of an incident. 

I am hosting a multi family and commercial real estate event live in person happy hour networking eventThursday, May 13, 2025 to 5-7 PM in Dallasjust p.m. me and I will send you the detailscheers,sarah waterman

This runs the risk, however, of the bank calling the loan (historically not likely to happen, but who knows what will happen if interest rates increase or we go through an inflationary event).

There's some inherent negatives about that and the house would be a hard pass for some people of different cultures but I am less worried about the superstitious or spooky aspect but rather the parades of traffic this property would incur whenever there's a service or event.

Since the loss occurred in 2021 when we file our 2021 taxes we will declare the loss and the relevant details.