I think I will post that photo on my refrigerator to help with my diet. 

@Ryan E. what you are suggesting about waiting till it appreciates to $800k is the kind of logic that contributed to a lot of people’s losses in the last RE crash and, for that matter, many losing gamblers.

Not to mention "additional insureds" can't collect a check when there is a loss, they only get liability protection (legal defense) in the event of a liability claim.This is an easy fix: You get your insurance broker to issue a policy in your title holding entities name as a named insured and then list the old owners name (the person on the mortgage) as a co-named insured with the acronym "ATIMA" out beside it.

.  :-)  Income was tax deferred because depreciation, expenses, etc. were written off against the income resulting in a  paper loss.  

Sorry to hear about your losses.  

, or just taking some of their investment off the table (risk reduction), generating a partial taxable event to be used again operating loss carry forwards, etc. 

Get a $5k deductible and protect yourself against total loss.  

This loss is expected and not a problem.

Sounds like you need to get in touch with the loss mitigation department at the current owners mortgage department and get a sales agreement in place pretty quickly to post pone the sheriffs sale.

.- Every door is another leg to stand on and can withstand some vacancy or my loss of work, should that happen.