At full occupancy, the cash flow I just keep in reserves for repairs or help pay the principal. 

The house hacking will pay dividends for a long time I’m sure.

And you don’t have to pay it back when you sell, you do an exchange.

Now if I pass that income as management fees to S-corp, I pay $3.5K (SE tax) + $800 (LLC fee) + $1700 (CPA + bookkeeping) = $6K in total.

If I identified the offender, I would probably bill them back for the wasted water and when they didn't pay evict them, or non-renew them if their lease was near the end because that is simpler. 

What should I do if my tenant isn't paying rent?""

Show Financial Stability- Proof of Income: Military pay provides a stable and reliable income source that banks value.- Creditworthiness: German banks assess your financial standing, so keeping accounts in good standing is critical.4.

Here are five dangerous provisions to watch for in an Operating Agreement:Dangerous Provisions to Watch:Authority to incur debt without investor approvalPower to make loans to other entities/projectsAbility to cross-collateralize with other propertiesPermission to use investor capital for other venturesCommingling of funds across different projectsWhy These Are Potential Ponzi Indicators:• New investor funds could be used to pay existing investors• Project-to-project lending can mask poor performance• Cross-collateralization puts your investment at risk for others' failures• Commingling enables masking of financial problems• Lack of project segregation enables fraudulent schemesProtective Measures to Look For:Strict single-purpose entity requirementsProject-specific bank accountsDebt limitations and investor approval requirementsProhibited related-party lendingClear fund segregation requirementsProfessional Best Practice:Request bank statements showing separate accounts for each project.

We couldn't close and had to have (and pay for) a re-inspection, even though the hurricane did not come anywhere close by.

I've never been to a pay laundry that didn't take twice as much drying as washing but not 10 times.