They will eat your lunch.

It TOTALLY sucks that LLs are the ones eating this huge loss.......

@Michael BattlerIn Toronto investors have been eating up negative cash flow for years.. fortunate enough 95% of the time they capitalize on appreciation which was their objective.

I closed on a 24 unit apartment in Nov, and post close found a handful of small issues like this (leaky fridge, missing sheetrock in closet, etc.) that I just had to eat.2) Did you get the property professionally inspected prior to closing? 

A bad renter could easily eat up any benefits and drive you into the poor house. 

Taxes and Insurance will eat up at least 10%.

Either one will entirely eat up their deposit, I'm just curious what to use officially. 

You may eat a loss but it will be worth it in lowered stress and constant money pit that this house has become.

The ability to limit some of your fixed costs (eating, doing laundry) by staying in an STR rather than hotel;3.

If a borrower stops paying on that first mortgage, and then the lender goes to foreclose, any equity that might have been had in the property is now gone because default interest, late payment penalties, legal fees, etc will eat up anything left after the principal balance of that first lien is paid.