How did you finance this deal?

You can use form 3115 to catch up with any depreciation not previously calculated.If you have a condo, it is possible that there is no land allocation.Furthermore, if there were any assessments made by the Condo Association, you want to factor those in as well.

Putting less down may subsequently put you in a break-even scenario or possibly even a negative cash flow.

I would just recommend renting their modem so you are always receiving the highest speed possible.   

Tell them you want to get into investing and ask them if they know of anyone who might be interested in seller financing. 

Otherwise, it’s treated as a partnership requiring Form 1065.Get an EIN (Employer Identification Number) from the IRS (free) for tax and banking purposes.Separate personal and business finances by opening an LLC bank account and keeping rental income/expenses distinct.Consider an operating agreement, even if not required by state law, to define ownership and responsibilities.Liability protection: An LLC helps shield personal assets, but you may still need landlord insurance and an umbrella policy to cover lawsuits and unexpected claims.Tax strategy: Rental income typically passes through to your personal return (Schedule E).

I have found that Redfin actually has pretty good search parameters to where you can look for listings that have been sitting a while that fit your buy box, and you can even do keyword searches for things like "as is", "investor", "seller financing", "guest house", etc. depending on what you are looking for.

Over time, we have developed systems to handle these situations as effectively as possible.

Cash flow is possible, but it also is not necessary to retire off of RE.Good luck and I wish you the bestTo be accurate I truly preach 2 directions. 

Play dumb, ask questions, and try to gain as much info as possible before choosing a contractor.