Funny Example: once had an agent complain, "why are you treating this like a mortgage, it's only a lease?"!

Treat investing as a genuine business rather than a side hustle.

Treat investing as a genuine business rather than a side hustle.

There's a reason why the Banks won't lend out 100% to anyone...it's because the risk "is" the person getting the loan, and the person taking the risk is the one lending the cash (or virtual cash, which is what the banks do).When the economy turns, and property values go down, unless the REI treats their investments like a stock, panics, and sells, this downturn should have little impact on them.  

A simple example is baseboards: if they're considered permanently attached to the wall like being glued on they're treated as a long life asset, it would damage the wall to remove it so it's like part of the wall; on the other hand if it's easily removable like being tacked or nailed onto the wall it qualifies for 5 year.

Can the renovation cost treated as a property expense?

Most likely you have a tenant that just wants to break the lease without penalty BUT any health or safety concerns must be taken seriously and treated delicately. 

You have to treat it like you either you borrowed money from your grandmother or lent money to her.  

With Seller financing they give you the deed to the property and they get a trust deed/ promissory note and it would be treated like any other mortgage in regards to ownership and control.

However, if there IS a nest in the house, I think it would be good to have it professionally treated soon.What would my fellow landlords have done?