After 2 years I have had to replace very few items, whether that be from theft, loss, or over usage. 

By late October, after 60 days of vacancy and two rent reductions), the same Dundee RTR listing remained advertised on RTR’s inventory site at their initial rent projection.I have been working with RTR’s client success manager through these issues, and I am cautiously optimistic RTR will act in good faith to help offset the losses here once it’s finally rented.

Proceed with caution and make sure you create enough room for value loss.My client recently had this issue and I told him only way to take this is if seller repairs it and lowers price significantly for value loss.

Contributions for development and remodeling will be capitalized, increasing the property’s basis and reducing taxable gains upon sale, though these costs are not immediately deductible.The LLC Operating Agreement must clearly outline how contributions are recorded and how profits, losses, and expenses will be distributed.

Chances are very high that you are not claiming tax losses that you should be.There are many ways to create relationship problems and one highly successful one is mixing business with pleasure. 

Understanding the market enables you to spot good bargains and steer clear of potential loss-making regions.

Apparently, not only did they sell at a loss, I didn't get any money back at all and they claim I owe them an additional $40,000 for "renovations" despite no work being done to the building at all. 

A lot of investors put a lot of weight into their LLC but to be frank, it doesn't really matter until after you've gotten under contract.3.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

Since you're a high-income W2 earner, you may be limited to passive losses write offs only.