If you have each been declaring 50% of the gain/loss from each property then you would each be the "tax payer" for 50% of each of the properties. 

Our amazing view location is beating out pool cabins and we do not have the hassles of a pool in the smokies, especially an indoor pool...food for thought. 

Still a loss though... 

You don't get to choose who claims the property based on who makes more money.Third, here comes the bad news: you cannot generate tax losses from renting rooms out of your own (or your daughter's) residence.

Where will they get money for food and other necessities once HELOC is depleted?

Good advice above- I'd just take the loss- who wants to deal with litigous tenants anyhow?

We're finally seeing some of the incomplete developments being back-filled, yet dilapidated suburbs and subdivisions are found in areas where economic development slowed and later stopped leaving job loss and abandoned homes in its wake.

You will be showing a paper loss on your rentals so you want be paying any taxes off them.

I attend 3-5 meetups monthly and we have local meetup https://www.cirpp-live.com/ been arounds since 1974 and we meet twice a month (one network night at local spot food, drinks, socialize and one day 1130am-1pm guest speaker and food at I-Hotel on campus) that have found vendors, private lenders, etc.

I have one right now that loss mitigation last week said it looked like a good offer and so it was handed over to their negotiator.