Whether or not it can reduce your taxes in the current year depends on multiple factors and is case-by-case.Example: you're single, have a full-time W2 job making $150k.

Now to current market, every source is predicting reduced appreciation nation wide for 2022 compared to 2021, but the various predictions on San Diego have it continuing to out perform the national appreciation.  

Theoretically, you can reduce your ADB by funneling your entire take-home paycheck into the LOC account.

I could reduce repairs significantly by not having it.

Offer second floor units from the first building scheduled the chance to move over to one of the now vacant units in next building, maybe with a reduced rate, or maybe with a "moving expense" rebate, and allowing them to move back to their original unit when the elevator is again operational.

There are a lot of tools you can use to self manage and reduce the time needed to manage it.

I trust their research.In summary, in the short term, there may need to be a change in Las Vegas residential landscaping to reduce water consumption (lawns, etc.).

Just get a good cleaner and handyperson and keep up on the maintenance of the mechanicals (furnace, water heater etc) and you will reduce problems tremendously. 

I view this as they are giving up something (reduced rent) and deserve some compensation.  

If you have other passive loss that you have been carrying from other investments, that could be used to further defer and reduce the tax.