I will say it is equivalent to a profit and loss report, so I would think it would be sufficient for that purpose along with some other reports I'm sure they will need.

Ultimately, my vision is partnering with a private lender so I can spread my funds across multiple deals at once and scale quicker; I'm really happy so far with my agents, contractor, and refi lender, so I feel like getting a great lender would be the next step for me.

However, I agree it’s better to just cut the losses now and learn from this crazy experience.

. --- If you close on the property in November and immediately send the 30-Day, you LEGALLY have to wait until January 1 to file a landlord-tenant case to regain possession is the tenants have not vacated.4) Your rent losses will be November, December, January, February and probably March if the tenants choose not to pay and you have to evict.--- Make sure seller at least collects & prorates November rent to you!

What are some ideas should i explore so that I can minimize the financial loss in this situation especially given I cannot refinance even if the rates were 0% as my property value won't appraise.

Stock gains are considered capital gains and can't be offset by passive losses from your real estate portfolio.

This is where a lot of people make mistakes and then keep those mistakes going until they decide to outsource it.Also, Tax Accountants can create Profit and Loss Statements but that isn't their specialty and they aren't focused on keeping your financials in order.

Landlord has to suffer the loss.

.- Jasper / Pat AboukhaledTurning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

I feel at a loss at the moment but do appreciate your reply.