That hard work includes making the investments that the current owner hasn't made (nicer kitchens, new flooring, fresh coat of paint, etc.), removing tenants and marketing to new tenants.

If the place is in decent shape I would offer to credit it toward the next month's rent and write addendum including no future pets.

You will need to deduct the expenses and include income on a schedule E of Form 1040.  

This video is a great start and includes a lot of sample images (good and bad).

Hello, I have a primary residence and about $10k in bad debt (not including car note, student loans and a small medical bill).

It is now known as the Frontier County Enterprise, but previous iterations included the Hi-Line Enterprise, and before that the Eustis News.

I am always fully transparent and the owner in that situation is a long standing business associate that knows my character, experiences and background, strengths and weaknesses included.

Interestingly, the records do include the downstairs space as part of the livable square footage.

Keep in mind that BRRRR strategy advocated on BP by Josh and Brandon includes leverage and pulling all your cash out of the property.

On the RE side - I own/developed 2,000 residential units across the United States focusing on opportunistic residential acquisitions and development, including student housing conversions and luxury multifamily development.On the startup side - it is a third-party guarantor platform that expands your renter pool, increases rents and occupancy, and ultimately boosts your NOI while broadening affordable housing options for renters.