Thought of HELOC to pull money but prefer better options. 

Also, I don’t think it makes sense to pull out of real estate right now.

I also experienced an issue in personal residence where HVAC unit pulls a vacuum while in AC mode, and sucked in sewer gas from condensate line.

You’re basically pulling future depreciation into this year.Two things to watch:Make sure the rentals are truly rental activities for passive vs nonpassive rules — big losses don’t help if you can’t use them.Get the study done by someone who actually knows residential rentals, not just big commercial.So: yes, you can do it now, yes, you can catch up, but no, you generally don’t get to go back and grab the old-year bonus as if you’d done the study in 2020.

Then pull a mortgage after completion.

Pull 3-5 active listings for similar properties in the area to verify   - Did you include all expenses?

Interesting data - I still wonder where the western NC second home market is going to settle out from all of this.100%+ price increases since 2019, prices seem down a little from the 2023 peak, but it also looks like a seller's strike in the market I'm occasionally looking in.Not that many listings, still elevated prices, and properties either get pulled after 3-4 months or there's a grindy sales process and eventually someone buys for a little less than the previous comp.

Scammers pulling the collect rent don’t pay mortgage scam?  

That’s usually where creative solutions start to make sense for sellers. 

You refinance it conservatively and pull out a portion of the equity as cash.