My state law requires landlord to attempt to find a new tenant asap to mitigate your losses.

@Greg FaulconbridgeWelcome to Bigger Pockets.

I love the Bigger Pockets community, but  I think it does a diservice to the "1% rule". 

Good afternoon Bigger pockets.

Even at $18k, small claims only allows claims up to $10k max so we are still at a huge loss but we figure at this point, getting some is better than nothing. 

Hello Bigger Pockets community!

I think you'll find many like-minded folks here who are working W2 jobs and also launching their REI career...it's challenging but so worth it.If you haven't subscribed to the Bigger Pockets podcast yet, I can't recommend it highly enough.

Tracking the tax basis and tax capital will come in handy in determining the taxability of your distributions and aid in gain/(loss) computations on the day you and your friends want to exit the deal.

Or are you trying to buy something bigger?

I heard on one of the bigger pockets episodes, where they were talking about posting their deals, but didn't see any threads in the main forums, maybe someone can post a link.