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Ofcourse and provided by "market will turn around" that it is within an acceptable timeframe. There is no use waiting 5+ years for the market to recover your 20k loss because by then you have had to deal with holding costs regardless if you go to IO and a lower rate. Not to mention inflation...

The OP has been urged to sell for a couple of reasons: Firstly he said the negative gearing is having an affect on his cashflow (naturally) but whether he can afford this along with other expenses is unknown. The outlook of the property. Keep in mind the property in question was not affected by...

Where is the IP? Agreed vendor finance could work but it's not a simple strategy let alone with little knowledge or experience. It may also be hard to find a buyer meaning more time, money and effort poured into this investment. Be sure to put a value on your time and stress levels as well...

As I said get specific tax advice but it is my understanding that some of this loss can be offset against any future capital gains? Ausprop there most definitely is opportunity cost invested in this property. The property would be greatly hampering serviceability and would give the OP little...

Personally I am a big believer in cutting your losses, learning from your mistakes and then reinvesting with your new knowledge for a higher return. Your exit costs for this property are going to only be minimal (3-4k agent fees). Any losses you have made can be written off against future...