@Luke StoneMy very competent colleague @Ashish Acharya was exhausted from the tax season, so please forgive him for accidentally saying that 1099s are based on your entity.

We've been doing some light rehab including:New flooring in laundry roomNew hot water tankFaux wood blinds throughouttouch up paint, where neededBringing some electrical up to codeInstalling a microwaveBathroom:  Grouting tub, replacing some damaged tiles, fixing exhaust fan, re-trimming window, new showerheadNew smoke detectorsPainting some built-ins in the basement that were bare woodFinishing off a bar in the basementPowerwash of exteriorNew address signNew mailboxRepair of interior and exterior doorsDealing with a disaster of a yard! 

Once you've exhausted that pool, you're working on people who are coming into the market and looking at whats available.

But even there I know how to troubleshoot so I'm not paying a guy to come out and replace an exhaust fan or thermostat.1.

Send the property to foreclosure - This is what happens to either brother when they've exhausted all other options.

There is no other heating in that room.When in use it literally steams the windows & moisture drips from the walls & ceilings even with the exhaust fan working. 

I also prescreen on the phone for any inquiry if person has been arrested for a felony and also how their credit is.After I exhausted all the free avenues then I go to the website credit agency to do a formal credit and background check.

However, that does not mean you can't exhaust your free options such as Craigslist, referrals (through agents or friends), Backpage, etc. 

It was disheartening and exhausting to deal with this person.  

By doing this, you as the lessor get to deduct items such as acquisition interest, depreciation, repairs and maintenance, insurance, and administrative costs.When interest and depreciation deductions are exhausted you can then transfer the assets to a family member in a lower tax bracket or you can sell the assets to the corporation.