(you do not pay the taxes you lose the house, and you do not pay the insurance the lender will put insurance on the property for you)  Assuming the properties are showing up on your tax returns the income/loss will be calculated from the returns using this form:  https://content.enactmi.com/documents/calculators/Form1038.C...The form will allow you to add back your paper loss of deprecation on your returns as well as your property tax, insurance and mortgage interest deduction as those last three are already taking into account into your payment as mentioned in the first paragraph.

If you have each been declaring 50% of the gain/loss from each property then you would each be the "tax payer" for 50% of each of the properties. 

There are companies that can do this for you.Having the property in your name will not stop you from taking a loss on your taxes, you don't need to move it to an LLC to accomplish that.

Good advice above- I'd just take the loss- who wants to deal with litigous tenants anyhow?

., such as the ability to offset W-2 income with rental losses using accelerated depreciation, but I’m unsure if the same strategies apply when dealing with foreign properties.

You will be showing a paper loss on your rentals so you want be paying any taxes off them.

The Berkshire summer weight comforters are also great.

I have one right now that loss mitigation last week said it looked like a good offer and so it was handed over to their negotiator.

I have losses financially now as the rehab time is almost twice the timeline now that was given in the beginning.

I beleive whether they count your paper losses as actual losses or not is determined if your lender has any overlays or not.Someon ccorrect me if I am mistake.