If my rate resets 2 points in 2010, which I believe is the maximum reset on my 80% loan, and my payments creap up another 500-600/month, with the write-off on negative income and depreciation, it sounds like I’m better off if I just hold on till at least 2012- versus selling today and realizing an immediate 70K loss.
Not sure what the tax savings would be, but I would lose 6K the next 3 years per year and 12K the 2 thereafter totaling 42K loss in rental income. Even without the tax write-off, still ahead vs taking a 70K loss right now.
