Either way I've loss close to $50k already in holding cost, fees, and withdrawal from HELOC for downpayment.The problem is I could list for $50k lower and still not get offers in its current condition.

Is there even any benefit to that if all the activity is line 2 rental re income/loss on the K-1?

@Adolphus Fletcher For multifamily investing, most real estate investors typically use an LLC for several reasons:Liability Protection: LLCs protect your personal assets from lawsuits or debts associated with the property.Pass-Through Taxation: Income and losses from an LLC pass through to your personal tax return, avoiding double taxation seen in C-Corps.Flexibility: LLCs allow for flexible management structures and are easier to maintain than corporations.Anonymity: In some states, LLCs can offer a degree of anonymity if you use a registered agent and form the LLC in a state that doesn’t require public disclosure of members, such as Delaware or Wyoming.S-Corps are should be avoided for real estate investing because of various reasons.

Since you're not working, you may qualify for REPS, but you need to meet the750-hour requirement and materially participate in your properties.The $300k withdrawal will be taxed as ordinary income, so using cost segregation to create depreciation losses could help reduce your taxable income.

Reminds me of the scene from the big short with the stripper who has five properties and swimming in debt.The other factor is how much do you have in reserves, do they cash flow and could you afford a job loss?

Your losses even depend on number of things like the basis of your earlier property, any additional capex required like HVAC or major repairs, output of cost segregation studies, etc.

Every few decades, I will be foreclosing on a bunch of properties, and potentially taking a big loss in a few cases.

We're finally seeing some of the incomplete developments being back-filled, yet dilapidated suburbs and subdivisions are found in areas where economic development slowed and later stopped leaving job loss and abandoned homes in its wake.

Any office that doesn't have this information goes for cost of equipment, which is basically probably a loss to the owner.

Covers the building, $1M/$2M commercial general liability and loss of income.It does not have some of the bells and whistles that an STR specialty policy like Proper has, like coverage for liquor and off-premise liability.