Thinking about getting a property management company to take care of it when their lease is up but would be taking a loss!

If you have access to a thermal camera you may be able to see from the inside where cold spots are and figure out a way to combat them.Windows are a big area of heat loss too, if they are old that might be the biggest problem.

Here, I have seen HOAs take possession and then rent the property out on a month to month basis, using the proceeds to recoup their losses and profit until the 1st lien position forecloses.

do you have any carry over loss that you were unable to deduct last year?  

I am mostly considering doing this to use losses from the rental property to cut back on my taxes from the non taxed commissions I receive. 

So they would list it as a $100k sale because that's the loan amount they were clearing and then selling it at a bank loss. 

Others will disagree or it may not be feasible for your situation.But I am a fan of having access to cash quickly to close a deal or backup reserves to make repairs (that's how we use ours).  

A loss would set your plans back or take you out of the game.Business situations plod along pretty tame...until questions about money surface...at which point it gets serious and comes down to being within the scope of the laws (i's dotted and t's crossed). 

(and certainly not all the extra interest that accrued at the default interest rate. )Question :  Do we, as investors, then get to claim a tax loss or write-off for all the interest (including the default interest & extension-points) that was not paid?

When the house sells, they split the profits or losses (50/50).