Quote from @Collin Hays: Some people are actively seeking out losses to "help with their taxes."   

Cut your losses fast and live on to fight another day.  

Quote from @Bruce Woodruff: Quote from @Don Konipol: “Hey, I tried to do a fix n flip and the market turned on me - I did everything right , but now what do I doAnswer - hold and rent or sell at loss, by the way here’s a list of things you may have done incorrectly ACCOUNT CLOSED    No thank you for responding, no thank you for the education, no thank you for taking the time to help me out, just ACCOUNT CLOSED.  

Making millions a year and often paying $0 in taxes.Short Term Rentals supercharge this:RE pros use cost segregation and bonus depreciation combined with leverage to create massive losses with minimal cash.Combined with 1031s and snowballing, you create a business that never pays tax.

We’re based in Los Angeles and open to creative or unconventional strategies as long as they help preserve capital or minimize losses. 

My insurance covers for loss of rents for my unit, but obviously wouldn't cover the unit below.

Well because foreclosures, tax liens, job losses, all these people in these kinds of circumstances, do not want to sell their house, they want to keep their house. 

This is an additional expense but also tax-deductible.CPA Support: A real estate-focused CPA can help you structure your LLC properly, track deductible expenses, and forecast your new tax liability with the loss of your homestead exemption.

We decided to do this to help these girls due to current high cost of studio apartments in the Lakewood Ranch area...so we will actually probably be taking a slight loss, but we will be paying down our loan. 

So I am not sure how much you get if you sold now...so weigh out the one time loss with the recurring monthly losses and determine if it makes sense if you decide to go down that path (this assumes you don't want to go buy the furniture and flip it to an MTR).