For instance, in your example (btw, we have had multiple occasions where this happens in the past few years) if you paid $200,000 for the house, put $40,000 into reno, and then closing costs, commissions, etc. were $15,000 you would simply add all this up and that is your basis in the property.

Collections are simply high there.South Shore is "C" housing. 

It's understandable why many investors and/or accidental landlords would opt to simply self-manage.

I don't know the cost of your fridge, but my CPA would simply expense it.The funny story is a rehabbed a house, bought appliances in a refrigerator, hot water tank and depreciated the entire rehab over 27.5 years.  

In that case, you can simply have the account at a bank or brokerage where you will have direct checkbook control.3.

There is simply way to many things that can go wrong building a new home with zero experience.

God bless.

You simply have no credibility otherwise :) 

This is simply the reality of the paradigm we are living in today.

Ignore their attitude (yes it can be hard) and either start with an eviction as they are in violation of their lease for non-payment (the $900 they owe) or simply do not renew their lease.