I tend to write off physical expenses to the building and do not write off expenses associated with personal effects.

.- You could also try selling to another naive investor, but you don't have the infrastructure to do so easily. 2) You'll need to evict the tenant if you haven't already.3) Have 2-3 agents tour the property and take videos of their recommendations of repairs.4) Review all of these to create consensus Scope Of Work (SOW). 5) Get 2-4 bids on the SOW6) Review bids to determine cost effectiveness of what to actually do.

In particular:(1) Should I hire a law firm or collection agency to facilitate the transaction?

Changes some of my answer below, but here would be most of the types of transactions you would have in these accounts and between them.Property transactions would be: all property specific rents and expenses, allocated expense transfer to the master LLC and transfers to master LLC bank account for profit AND/OR property management fee.Master LLC transactions would be: Shared expenses going out, reimbursements/transfers from properties for their allocated share of those expenses coming in, the transfers from your properties deemed as profit AND/OR property management fee and then transfers to your personal accounts deemed as owner distributions.Other transfers that could occur is if the master LLC needs to transfer to the properties for capital expenditures above and beyond the reserves you might leave in their accounts.

It’s proven very effective and just makes good common sense.

In addition, the capital outlay starts long before any income and the detracting of something from the primary structure even if it is just yard space.As indicated, my original protege made a lot of money (over $500k) on a land transaction associated with a large count ADU development.  

Emergency Maintenance: Regular maintenance is on the owner, emergency repairs might be charged to tenants if they caused the problem.By proactively managing these expenses and clearly communicating responsibilities to tenants, property owners can maintain their properties effectively while minimizing unexpected costs.

I've been told the higher deductible also effectively killed FHA financing.

I have several questions - imagine being able to split up property ownership into tiny pieces or having every transaction out there for everyone to see, all secure and tamper-proof.

Otherwise, you should work with a mortgage broker who can shop hundreds of lenders for you to help pick the best lending partner for this transaction!