I just purchased Excel so I can have a more sophisticated and professional way to keep track of my rents received and profit/loss etc.

I am unable to write off my investment losses beyond the yearly $3,000 hence looking at the RE market.My credit is over 800 and I want to put $$ to good use.1.

I know that every successful investor utilizes spreadsheets to record data, but without concrete examples I am completely at a loss.

@Russell Brazil Thanks for the advice - I'd like to charge her for the stress she's giving me and with her delay games even if it goes through we will now have to rent a month which will also incur extra moving charges so there will be a monetary loss on my end at least 3k for her actions in this matter thus far.

I'll update on how things end up, there is another house a few blocks away that also looks solid so I may just cut my losses and move on if they won't move on price

I could imagine that the tenant will move out on his terms, meaning the last month rent is covered by the sec deposit, leaving you with a loss caused by damages plus a loss caused by insufficient time to locate new tenant.

See how long the Tenant will last without gas and food money.

I understand that any loss of rent can be charged to the tenant, but I couldn't find sufficient info on the other costs.Also, If I were to contact a lawyer to get legal advice on this; what kind of lawyer would it be - real estate? 

I don't think your rents will continue to rise at that rate unless you invest more rehab money along the way; just some food for thought.  

Its currently worth about 35% less that what I paid for it, so I don't want to take the loss and sell.