Same as your ordinary income. 

Hi @Cole Britting, these are great questions.

Quote from @Joseph Weisenbloom: Cleaning does not fall under "ordinary wear-and-tear."

They accept it in its current condition, meaning we will repair things that break through ordinary wear-and-tear but we will not be making improvements to the property during their tenancy.

On traditional flips, you will normally pay ordinary income tax on any gain upon the sale since this is considered "active income" which means you pay whatever your individual income tax rate is on the profit.When it comes to flipping, there is so much involved from the tax side that you really need to talk to a good CPA that specialized in real estate and pay whatever they want you to to help you time things correctly and structure the deals so that you win. 

=======Renter seems "inexperianced" in life.Nothing out of the ordinary for someone inexperienced in life.And not everyone is comfortable with electricity--even throwing breakers--but a $400 bill for a breaker flip might make them want to try to get comfortable (PM's handyman's time + PM's time charge for handling it).Coach the renter on how to be a good renter and Collect the rent.Stove knob broken, door lock not working on bathroom, leaking fixtures, ants (or other crawlies) inside the unit, wonky thermostat, warm fridge, ice maker broken, garbage disposal not turning, etc.. expect calls for these things--and provide good customer service for the renters money.Good Luck!

Any ordinary and necessary expenses.

If you buy and ordinary property in a so so community, the competition will basically dictate your nightly rate and you will cap out.2.

You will have capital expenses that will be depreciated over time, ordinary costs such as utilities expensed annually, and possibly some accelerated depreciation on some equipment. 

It is ordinary income taxed at your rate.