What if you were to eliminate the property manager and try to get a tenant who is willing to take care of the maintenance for slightly reduced rent?
Of course, you would want good references and a high credit score, but these renters are out there.
Not sure if you’re paying for a gardener, etc., but it might help if the tenant took care of the yard and maintenance for a ~$200/month reduction in rent. There would have to be a cap on the maintenance they’re responsible for, but it might help.
If that won’t work, and if you are losing money every month, I think it would be a pretty good idea to talk to your lender about doing a short sale.
