I have read several books on investing and the general answer is that it depends.

Just when I thought paynearme was the for sure answer. :)

Answers to pretty much All your questions can be found throughout the archives here on the forums so i won’t bore you with those details...

I don't have the answers, but I do know a dude who had to move out of state for work, and he rented out his house to Section 8 thinking that was a good idea.

This is not exactly an answer to your question, but might be useful information for you to have if you are forced to make improvements to the building to comply with ADA requirements.There is a tax credit worth up to $5,000 for making "eligible access expenditures" to comply with ADA. 

To answer Brian's question, I believe you just want to cut your losses and recover some of your cash and possibly pay back borrowed money.Assuming my hunch is correct, you just claim your losses, and there is no tax issue.If you do have a taxable gain after selling this property, you will not have adverse tax consequences, either.

He will most likely have answers.

I hope my almost 18 years of construction experience is helpful and I’m always eager to answer any questions I can. 

You can make it whatever your investors will agree to there is no right answer

I understand he contributed way more than a million.One feature of his course is he answers all questions, real estate and personal.