If you don’t believe you can make this place perform then it’s time to cut your losses.

That cost us $59.50 a monthAnd we just received the monthly insurance mortgagee notification from the contract for deed that was just paid off in North Carolina, and it triggerred my brain to ask myself, should I be putting insurance on the 2nd liens until we are added as loss payee?

And the follow-up question to my question above (assuming your answer is "Yes.") is...would the ~$340K of partial disposition losses be counted as "ordinary" (or) "capital" losses??

@Stephen E.Remember, RE pro status will help if you have a rental loss this year.

Do you want to stick with it and hope it sells more in the future, or dump it now and take a small loss?

There’s no tax credits for house hacking but you can deduct passive losses on your earned income if you qualify.

I'm just going to liquidate the properties "as-is" knowing I'll take a major loss.

Most of the articles that I've read assume that capital depreciation is deducted from current year income at 25%, or deferred in the case of someone with too high of an AGI to deduct real estate losses.  

Right after you close on something get an insurance policy that will protect you if there is a loss.  

Alway get an insurance policy right after you close on a new property that will protect if there is a non-natural loss.