Unfortunately, unless you see the underlying financials as well as supporting data for those financials, you do not know whether there actually was cash from operations to pay your distribution or not. 

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

But once I got the bills, I increased the rent with the tenant's approval and signed an addendum to the lease stating the rent increase would be X and the owner would take over utilities.

Building a strong financial plan, researching markets, assembling a reliable team, and having an exit strategy are essential steps to success.Good luck!

This would increase the benefit to where the fee would not be so outrageous that it would hinder the investment.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

I'm looking to get their "package" which includes a Holding company, LLC Subsidiary​, Corporate Financial Program and an Estate Plan.

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.

I guess you could offer up your property OOS, not sure how an affected victim would get there, if they have financial means, they could fly there or drive there, if they still have their cars. 

The house is in Woodforest though so rentability might be lower as well increasing vacancy risk due to high rental costs.