Sometimes it ends up being a financial loss for me.

Maybe if I had brought down the purchase price because of what I know now, it would have been a wash instead of a loss.2nd thing:  People.  

I'm looking to find my first investment property in the Richmond, VA area but kind of at a loss on where to start.

All the calls all the trouble visiting the property paying the garbage the property manager was in vane over one stupid appliance loss .

Unfortunately, I am stuck with it for a while, So I have to do what is necessary to lower my loss.

Instead of selling the townhouse now, and taking a loss ($35k less than we paid for it), we have decided to refinance and live here for a bit longer.

To be fair, at least the bank can take control of the property to recover losses... landlords don't have much recourse beyond retaining the security deposit.Glad you're going to report the tenant to the credit bureaus so that the tenant won't be able to scam anyone else.

Gonna be hard to do this year - just pass the losses onto next year.

Once the above is done start working with an insurance assigned adjustor and a contractor on repairs.If your tenant claims they are unable to occupy the property due to the extent of the damage, your insurance may have additional coverage for loss of rents.

>>Here is what you need to do:- Prepare Worksheet for stock gain and loss sales and 8949, the worksheet is available from brokers , it's another form that calculate cost basis but it's not tax form.