It will help offset the taxable income from the other properties.....passive losses and passive income.

If not it's honestly just your loss.

I guess did not read the Morris invest threads.. and BRRR for someone who is not in market is a HUGE risk HUGE.. you cant read a book and then become a rehabber from 2k miles away in low end rentals.. the amount of risk of theft and loss far mitigates any potential equity.and one last thought  Joe when you say the risk is the banks  I get that In theory.. but if you default on a bunch of bank loans your toast for the future..

You guys have caused me tons of losses as well to other folks that I have met.

In non-appreciating areas, this leaves you with the unenviable exit strategy of compounding the loss by taking a hit on the sale.  

There’s no problem anticipating that rentals will provide for your family there’s 3 things to consider:1) legally set up operations so that your beneficiaries can simply continue them without any kind of weight of going through probate (other wise a little life insurance for probate season can be helpful- this should really be a conversation with your lawyer if you have questions about probate - thankfully @Pat L.’s doing the right thing with the trust).

Selling at 150k would net me a sizeable loss. 

Im in the position I would rather sit on my cash for a few months than deal with the stress and weight of all this going on.My questions is, Can I legally back out of this contract citing a "Pandemic" "Act of God" or something like that??

He did the first month for free so I could see that he was worth his weight, and now it is $1000 per month for him to manage the account.

But Smoobu has the right price and promises all the main features I need to scale efficiently and to punch above my weight class with guest experience.