I ran some numbers through the BP calculator and if my wife and I lived in one of the 1B, 1B units at a purchase price of $290,000 we would cash flow $25 a month living rent free.

Having dealt with smokers who dont think butts are trash and twenty something slobs I empathise, your best bet is get them out.

The days the angel investor realize they are betting on non-profitable companies in SFBA are not too far.

It is laughable that you are calling this a bad investment with zero information.Also, $550 mortgage payment already included the taxes and insurance in the escrowed mortgage calculation.

Even if you have to look outside of your immediate area to make that happen, that may be the best bet.

I'd imagine selling + 1031 exchange would be your best bet, although you can probably get an 80% ltv line of credit through Penfed if you want a different route.

(I'm self-employed in the trades, not that I'll be doing all the work.)I joined this community thinking it would be a good place to network and bought a pro membership for the calculators and access to the marketplace.

There are ways to optimize but i would not put too much calculations on it. 

I've posted some examples if you look at some of my post and the BP calculator are amazing as well so just let me know.

At this point I'm running numbers on as many properties as possible, using the BP calculator.