Furthermore, the deduction is phased out for adjusted gross incomes between $100,000 and $200,000.And while we are on the subject of taxes, it is worth noting that some of the deferred income taxes will come out in the wash in the form of higher capital gains taxes, if and when the property is sold.

If you charge yourself rent, you both are receiving income and paying an expense as a tenant, which is a wash.

It is already remodeled so no work needs to be done on the inside, just power wash outside .It is a 3 Br, 1 bath SFH.

Tax consequence is most likely a wash or a loss.  

forced appreciation is an artificial increase in value realized when the property is sold; there are a number of things you can do to improve the property,  new appliances and services for tenants,  obtain an upgraded appraisal, increase rents, upgrade tenants, and coin service laundry machines. 

There is no way I am going to clean the house, wash the sheets and whatever else for $10 a night.

As far as the creative financing, I am taking about 6 months to a year to get educated on creative financing and figure how this RE machine works.

If upgrading showerheads, toilets, faucets, and/or washing machines would cost you $1000, but save you $15/month over the next 20 years, I'd say it's worth it

I was going to be the vending machine king, apartment complex baron, t-shirt vendor...

----Can you power wash the concrete areas, both by the house and behind the garage?