Or will you be subject to the passive loss limits? 

But your property still is not a loss, yet. 

If you qualify to take those passive losses against your income and are in the 37% bracket your tax savings would be 75k x0.37=28.75k. 

Quote from @Dan Ikon: An investor considers acquiring a short-term real estate to offset his investment income by depreciation loss.

If you’re able to use passive losses to offset your active income, then doubling down on cost segregation and bonus depreciation might make sense.

Whatever you decide, the key is to protect your credit and try to minimize monthly losses while you transition.

This could allow you to use rental losses to offset your W-2 income.

My plan is to sue the previous owner to minimize my financial losses and, if possible, take legal action that benefits us..

If your losses are significant and you’re unsure how to proceed, a brief consultation with an attorney could be helpful—especially if you plan to sue or if the tenant contests your actions.To summarize, you’re likely within your rights to remove the abandoned items, especially after following a few precautionary steps.

From a tax perspective, STRs are unique because they can be treated very differently than long-term rentals, and that can open the door to powerful deductions and planning strategies as you grow into flips and traditional rentals later.Key tax points to keep in mind as you start:Short-term rental income (average stays of 7 days or less) is generally treated as Non passive income, not passive, so you may avoid passive loss limitations that normally restrict rental deductions.Because STRs are considered a business, you may be able to take accelerated depreciation or even use cost segregation to front-load deductions against your active income.If you materially participate in managing the property (screening guests, coordinating cleaning, handling bookings), losses can often offset W-2 or contractor income, a major tax advantage early on.As you expand into flips, know that flips are taxed as ordinary active income (similar to your contractor work), not capital gains.