@Bill Brandt & NEVER die with a huge carry forward loss !!!

Ride it out, try to enjoy the parties/weddings/etc...And sorry about your loss.

., for example, recent conversions slated are to remove 158,000 square feet of office inventory from the Plaza/Midtown, an area that's become a popular urban address for younger people who are looking for apartments, says Dennis Bradley, principal at B&A Architecture in Kansas City, Mo.The conversion to apartments is occurring after the owner tried for two years to find a single-use office tenant to occupy a 60-year-old office building that is now being converted into 101 apartment units, including eight two-story penthouses.Meanwhile, the losses of office inventory are expected to stir more ground-up office construction and leasing activity in other office buildings, the CoStar Group reports.Source: "Office Today, Apts.

Be sure to have a Loss of Rents provision.4.

It's kind of weird being my moms landlord but she thinks its great and she loves the house so I know she will take care of it even though I take a $150 loss each month . 

I'm running behind schedule now so I'll just have to eat the loss at the moment and continue moving forward.

Short answer: you probably have to claim it in 2015, but you can carry forward the net operating loss to apply against subsequent years. 

When done I print out a detailed Profit & Loss report, and then put those numbers into Turbotax (Home & Business).  

For hazard coverage, many investors only carry actual-cash-value policies which payout a specified amount of cash in the case of a loss in order to protect the total investment.  

If you don't setup correctly, and optimized it in the right fashion then you will just loss money and time.People think just having a website online enough which is 100% false.