No losses in any of the cases to me except for my time and some lawyer fees, a whole boatload of aggravation and some sleepless nights. 

I have also gotten loans based on a simple profit and loss statements.  

@Don Darnell sorry for your loss.  

Sorry to hear about your loss @Jenet Christiansen. 

@Shawn Connors Hobby Loss Rules only come into play when you show losses three years in a row.

If it were me and you cannot rent or must sell for a loss I would stick it out and rent out a room or two to a friend.

This will ensure that if you have a total loss they will payout the cost to rebuild from scratch and not just cover your purchase price.

If the gridwork can handle the weight, substitute traditional tiles with painted drywall ones for less attention.

My question is am I allowed to keep the security deposit considering I'm still at a net loss.

Certainly it isn't the Oil itself they are worried about but certainly the multifamily industry is tied to employment and job growth and they could know that job losses are on their way.