My house isn't even covering costs when rented. Should I keep waiting for values to recover, or is it smarter to cut my losses now? I need to understand the long-term financial implications of holding this underperforming property versus seeking a better investment opportunity, perhaps with a financial advisor's help.

I am focused on long-term returns like IRR or cash-on-cash for more than a 7-year period with comparable improvement opportunities. What factors should guide my decision between a prime location with a 4.2% cap rate and a neighboring area providing a 5.5% cap rate, considering the potential for varied property appreciation?