We paid for the property in cash and plan to pay cash for the rebuild.  

i'd never tell anyone to buy a property that they're negative $350 a month on unless they had a long term plan for it that included making money somehow

Let us also say I am willing to carry the second position note for someone assuming the loan. details below on the property ( I will use a property I own and could theoretically do this with... though not planning to).

Holding title in an LLC or Trust is always wise for asset protection and estate planning considerations.  

I plan on keeping the PM for a few months to help me get settled with new leases. 

But if that Ferrari could bring in a return as an asset, rather than being a liability, and it puts a good amount of monthly cash flow in your pocket each month then someone with an entrepreneurial mindset and business plan for it should think about buying that Ferrari. 

Stay updated on market dynamics, interest rates, and economic indicators that can impact real estate investments.Set Goals and Take Action: Define your short-term and long-term goals as a real estate investor and create a plan to achieve them.

Purchasing a rental property in the coming months, with a plan to have several by the end of 2025.

Are you planning to force the tenant to buy the property?

How long are you planning to hold this property?