According to TMZ, it isn't clear how much he is looking to make from renting out the property, but he is currently spending $72 000 a month just on maintenance on the place.
50 isn't the first resident of the property to hit financial difficulties, as two previous owners, former boxer Mike Tyson and a Lithuanian businessman, also went bankrupt while living there.
Earlier this week, it emerged 50 - whose real name is Curtis Jackson - has expenses of a staggering $108 000 a month.
The In Da Club hitmaker's bankruptcy filings showed that, as well as the money he pays out on his home, he also spends $1 000 on grooming, $3 000 on his wardrobe, $9 000 on security and $5 000 on gardening.
Despite a recent court testimony in a case brought against him by Lastonia Leviston - whose sex tape 50 allegedly posted online - in which the 40-year-old star denied owning a multitude of luxury vehicles and living a lavish lifestyle, the filings also state he owns seven cars, including a Rolls Royce and three Chevy Suburbans.
The Power actor also pays $14 6000 a month in support for his sons Marquise, 17, and two-year-old Sire, and his grandfather.
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