On the other hand, drawing a concealed weapon is only feasible if you are not the target.

This file is ready to close, get this in your profolio before the end of the year and claim it as a loss on paper for tax advantages!

It seems that you are selling at a loss now, so is it practical to spend that much money for renovation if there is no return on investment?  

Either that, or the price they will accept puts you at risk of loss if all doesn't go to plan.If you use this approach, I foresee tensions along the way.

Just talk to your accountant about what can be classified as repairs vs improvements, and how best to carry over loss/depreciate the property considering you are currently cash flow negative.

Loss of cash flow and loans coming due in a stressed down market where property was not worth what needed to be financed.  

Depreciation is a deductible expense, however it's not one that you technically pay out cash for year over year, so you've got a net cash income, but a net tax loss.So in your example, if you had a higher purchase price on that house, the annual depreciation might be enough to put you in a tax loss situation every year, even though you're cash flowing.This happens frequently for people who put more than 20% down on the purchase for some houses that don't rent for very much.  

My SDIRA is one of the biggest but with the worst possible WEB site that led to financial losses and even an identity theft (which though remedied, left me angry.)

My 37yr career in software has taught me that unless your data is on your systems and devices, then you can expect data loss and data theft.To keep privacy, don't post or upload anywhere (including the 'cloud' products).

If I absolutely did not want the asset back I set them low enough that I would get a bid  ( 6 plex in Tacoma I did not want to F with) .. on other one's were I did not want to take a loss and I thought I could value add I set opening bid as high as the law allowed IE default interest all costs etc.