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@enoughhomeless I would monitor it for a year, and if it’s truly a lemon, sell it even if it’s a loss. Chalk it up as an expensive learning experience and don’t repeat it again. That’s how you mature as an investor. not willing to get rid of non performing investments (loss aversion) is a sign...

@loo You original loan is against your PPOR so the interest will not be tax deductible. You need a clear demarcation between the money you borrow against your PPOR vs the money you borrow for investment.

@loo I would settle the PPOR debt, borrow against the PPOR and invest in another property instead. That would make your interest deductible and use the leverage to grow your wealth. That’s how you invest in property if it fits your risk profile and investment approach.

@inutah My condolences then. Definitely consider changing your property managers. My worst tenant was a result of a naive and likely fraudalently qualified property manager who put in a tenant who was terribly qualified and I thought I was being nice to the tenant to offer him the property...

@inutah If your post is real and unless you are doing this via short term rental and via AirBNB, it is more likely you are highly unlucky especially with IPs of that value. You are less likely to get bad tenants at the range you are operating in. All my troublesome tenants tend to be at my lower...

@inutah Feels like fake ragebait, I'd been a landlord for decades and experienced a fraction of what you describe.