Gino if I was betting that is what I would bet on.. also many students will put these in CC then try to get the CC card company to reverse it.. sometimes the CC card company will do that. 

Accountability must be demanded by Californians, and the nation as a whole. 

If you can find comps that support a lower assessed value, it's worth trying to appeal.

I am a mother of 2 and trying to get into this to save up college funds for them when they grow up so that they too can chase their dreams in life.

Tried-and-true method.

And I try to be as helpful as I can.

If you are going to sell then you must understand the tax implications. 

One last thought, have you considered just selling to (or trying to partner with) a developer?

You must be licensed in the state you want to buy/sell.

You have not added to much difficulty in terms of tax preparation, but in terms of tax record keeping you definitely have.I am not a tax professional, but having been a landlord who has tried(and failed) in my own tax situation, I would love to help point you in the right direction.Being your first year, it is all but a certainty that you have taken a loss.