Canada has credit reports similar to USA.Google to see if they have a version of TransUnion that can be used to access.

Hey Jason, As myself and other tax professionals have mentioned it's considered "in service" once ready and available for rent-and at that point is when you can start reporting it, you can begin depreciating it etc. 

You can basically connect a plethora of accounts (Google, Facebook, Instagram, Your Email, etc.) and set up specific scenarios to fit your needs.Example: I have an email automation that takes all of the emails I get from various agents, and stores the details into a spreadsheet.Or something expense related...I have another automating that basically exports a spreadsheet from my Quickbooks account (Where ALL of my expenses are centralized now) and inputs the information in an organized manner as monthly/quarterly/semi-annual report!

This allows you to report the rental income and expenses directly on Schedule E of your joint tax return, simplifying your tax filing process.

Once fixed, the plumber confirmed everything was working 100%.Fast forward 3–4 days, and now multiple units are reporting toilet backups.

They will issue an IRS Form 1099 in January, reporting your total taxable income to you and the IRS.

If you want to get involved with a great training program, try Lifestyles Unlimited, they have over 55,000 members nationwide. 

Personally, after working with numerous property managers in Las Vegas, I only trust two to handle this task for my properties.Compliance Is ComplicatedProperty management involves navigating a maze of city, state, and federal regulations.

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

If the investor is actively involved and can stay on top of materials, roll with it!