Here's a breakdown:New Orleans Duplex: Firing the property manager is likely the right move given the prolonged vacancies.

A general rule of thumb though (not a hard rule) is that if a market has a prolonged history of vacation rentals such as towns whose commerce is very dependent on tourism like beach or mountain towns, then there is a good chance than those towns have established their airBNB regulations decades ago and are likely stable.

If you dont sort out your global cashflow, this may only prolong the inevitable at the expense of your equity.Option 2 would be leave CA and shrink your balance sheet by selling the properties and paying off the CC debt.

As others have said you will get less return on your money and prolong the process, but your strategy will still work!

For example, a tenant can file for bankruptcy (legitimate or not) to prolong or delay the legal process.Lastly, you may want to consult with an eviction lawyer/attorney.

I wouldn’t be surprised if they prolong this a whole year...

So it's probably an expensive job IF I'm even allowed to do it.I'm house hacking this property by living in this basement and renting the upper rooms so I can prolong the decision for a year.

Can they keep sending out yearly K-1's to prolong this for a couple of years?

I do agree with you, when your margin of error is higher you don't have to be as precise which ultimately leads to waste in profits and prolongs your abilities to reach your goal if you are not disciplined.

My biggest hesitations with keeping this property is the rental market is pretty saturated and I’ve heard of some investors having to significantly drop their rent or have prolonged vacancies.