Hard Money Lenders can eat up all your profits and eat into your reserves if things don’t go planned.

I stopped drinking, eating sweets, and am now going to the gym 7 days a week.

Of course we ran out of money quickly and we began eating basically beans and rice, my wife drove no where that wasn't absolutely necessary, we cut every cost we could in order to keep every property.

It sound like right now you're happy with eating Ramen noodles and living in a shack. 

That said, it sounds like you may have made an incorrect calculation of the value and depending on the exact situation, it may be better to eat your loss, chalk it up to a paid education in the real world of RE and don’t repeat the same mistakes on the next one.As J stated, trying to keep it and pile onto the mistake is often not the best road to take, jump ship, lick your wounds, and get back into the fight.

Civil engineering (easily hit $50,000(20,000 just for the plans)) can eat you alive.

They are nice at that point, with updated heat/air, roof, and flooring, so the dreaded "maintenance will eat you alive" is false.  

Plenty to eat if you've a hungry mind.

If you come down too much on price and let's say the price is exactly where it should be then there's potential you're now eating into the cashflow this rental is generating. 

That's the hard part for any of us in the helping professions, we can't make the diabetic eat less sugar, or the buyer or seller actually act in a way that maximizes their benefit.