This just leads to hoping you die before you run out of money. 

you should get a RMLO or an underwriter to qualify the borrower. if its owner occupied and in florida you also will need to use a third party servicing company to service the loan which will run you around $450/yr. not an accountant but its my understnding unfortunately the interest income is going to be taxed at ordinary income and the principal will reduce the principal. how you offset the losses talk to your CPA.your best bet honestly is to just sell it and bite the bullet. 

Wholesale Deal under contract in Bryan ,txit is a vacant trailer on a lot both owned by the Ownerunder contract for 55k needs 10k to repair get it rented outall together 65k to get the property and get it operational investor next door door similar situation got the trailer and lot for 64k repairs included.

The best thing all of us can do is meet with our local apartment associations and as a group reach out to local lawmakers to enact improved, landlord-friendly squatter laws on a local level. state of Florida just enacted a law where the cops will be banging on the door within 24 to 48 hours of a complaint.. they dont fool around there in FLA.. and Vegas contrary to what folks that go there and think what happens in Vegas stays in Vegas the cops will knock heads there as well. 

I would love to get the info and I can run the numbers.

Run some numbers there and see if you like it!

Most of the investors I know that complain about cash flow only flip 1-2 properties per year or own like 4 doors.

A current tenant has damaged the rental property beyond the normal wear & tear. (3 by 6-foot hole in dry wall; Garage access door complete broken off with damage door frame, the main entrance door way frame is broken and need to be replace, damage to the rear entrance door frame as well).

There are plenty of ways to run background checks. 

Most doors average around 150-200$ in that area.