We're Bleeding $730 a Month on a Rental Property. The Worst Part Is We Just Signed Another Lease and Now Selling May Not Be an Option

Oz and his wife are losing $730 each month on their rental property in Tampa, Florida, after signing a new lease. The couple never intended to become landlords when they purchased the home three years ago. The rent they receive is $2,400 per month, while their monthly mortgage payment is $2,800. Additional fees such as property taxes, realtor commissions, security, and district fees add to their monthly losses.

Despite having a strong financial background, Oz and his wife still feel a sense of unease about the situation. They are now considering selling the property, but they cannot do so immediately as they have a tenant with a lease that extends for another 11 months. Oz and his wife are being advised to review their options with their realtor, as selling the property may not be the best decision at this time.