I also want to drive home the thought that the reality of losing $50/month in a recession is far easier to stomach and budget for than $250.

You are losing $70/month on the mortgage alone, and without knowing what else your "payment" figure includes, it could be hundreds more in PM fees, property taxes, insurance, maintenance, etc.The refi certainly seems more appealing at a glance but again, if we have to consider the additional expenses listed above you'll still end up underwater.Honestly, it seems like unloading this thing any way you can in order to limit your losses seems like the best play.

I was almost losing hope in SFR being a profitable enterprise.

Currently dealing with a bank for a new mortgage (trying to roll over $11,000 losses from repairs, ect)The property cash flows at $400/mo, but I rolled over all my losses, taxes says 0 gain, 0 loss, but I rolled over all the extra 'losses' until next year.Mortgage is trying to tell me that I am losing $800/mo on the property and being a pain in the *** for approving my new loan.I know the freddy and fannie verbiage says something like after one year only the net gain and net loss can be calculated.

Worst case scenario is usually you lose the deposit.

I took two cancellations for the end of March yesterday, stand to lose a third if the local triathlon gets cancelled (seems fairly likely given the trend at the moment)...It will pick back up, but definitely footing more of the mortgage this month.

I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.

If you walk away, but you do so in violation to what you have agreed to do so far (breach of contract), you may very well lose your earnest money.

Wouldnt the property manager lose his/her job ?

Looks like it will lose a minimum of $600 per month.