Quote from @Max Emory: @Bob Asad, there are a lot of different account structures out there but absolutely keep security deposits in a separate account from your opex/income account. 

Basically, they name everyone because they’re hoping and counting on the fact that people set up their own LLCs and didn’t adhere to basic entity maintenance and kept things separate (like bookkeeping and separate bank accounts).

It's pretty much already been said...normal wear and tear for small picture hanging holes...cost to repaint entire unit needs to be accounted for in the total rent from a 1 year lease.

(no banks involved)2.

Another one I wish I had taken earlier was to get involved with a boutique or specialized commercial broker. 

Calculating these losses involves documenting the fair market value of the property before and after the disaster, adjusted for any insurance or other reimbursements.

It may seem easy to jack up rent but there is something to be said about good, on-time paying tenants.As an accountant, I always rely on the numbers.

lol, bro, he's been involved in an attempted murder twice in the last 6 months.

You are neglecting to account for gentrification, which is the biggest REI gain or all.

Make sure your accountant specializes in real estate taxation.