Your expenses from renting it out are most likely going to be greater than 300 dollars, so you would be taking a loss, which is obviously not ideal.

They did not put any more rules on it and it was into a stock investing account which makes (and losses) money daily.  

For example; If housing drops 10% on a $100k house you have lost $10k, but that would be a $20k loss on a $200k house.

If so, then you are in the phaseout zone for the net passive loss allowance. 

If one takes a huge loss somewhere else in the country  (heavy in TX or FL for instance) and raises premiums, I have a 2nd one to go to for a quote that I have a relationship with.  

I can almost assure you it will be a loss for your due to the ongoing maintenance cost, not to mention the fact that a tenant will NEVER maintain a pool as it should be so ultimately that expense will fall on you. 

Diversification is a way to protect yourself against Losses.

I'd avoid a monthly loss like the plague, and make sure that the cashflow provides enough profit compared to other opportunities. 

My solution is to sell, take the loss/rip the band-aid off in the next 2 years and consider it my college education. 

Renting is a automatic loss of $30K+ a year.