What constitutes "appropriate" should be the topic of a deep discussion between you and a competent advisor.If you need more information than that, it's best if you reach out to your tax advisor, who is in the best position to advise you based on your facts and circumstances.If you feel your advisor is lacking in knowledge or unable to advise you on the matter, perhaps a change is in order.

Do you guys have a standard clause to put in lease for what constitutes a formal/ legal communication method, and what responsibilities tenant has in responding?

In the 1981 Gorod case, the Tax Court said "...Respondent [MP: the IRS] also contends that section 280A precludes the deduction of the rental expenses and depreciation, apparently on the theory that petitioner's occupancy of the upper unit constitutes "personal use of the lower unit.

If you're relying on this information to determine what constitutes an enforceable contract, you really should ask your attorney, or engage one, especially if this is for anything other than educational purposes.With the modernization of real estate another line is blurred.

The court will side with the tenant with the thinking that your continuation of the lease by not exercising your option to evict over unpaid fees constitutes you having waived them.  

@Will SchryverInvesting in real estate is passive investment income and does not constitute the type of business that can establish the Rollover as Business Startup program.There is no route to put that old 401k into passive rentals that you operate personally other than to take a distribution and pay the taxes, which most folks would recommend against.You could establish a self-directed IRA and then have the IRA invest in real estate rentals.  

YOu should be marketing to potentially distressed people.When you market to people, you can get to them before they get to an agent and the agent tells them that they should list the property for 20k more.If you absolutely have to use an agent to find investment properties, have them look up properties that are 100 DOM or properties that are below a certain price per sf or some other metric that you think would be a good marker for what would constitute a deal for you.

Add this term to your lease.All parties agree that termination of this Agreement prior to termination date will constitute breach of the tenancy and all Security Deposits and one full months’ rent shall be forfeited in favor of the Landlord as liquidated damages plus the Tenant will be charged for cost of restoring the property to rental condition plus advertising and rent loss incurred until new resident moves in.

To that end I would like the balance of hours to be available for 2 calendar years after closing.5.NonbindingThis letter is nonbinding and constitutes an indication of intent only and creates no liability or obligation of any nature whatsoever among the parties hereto with respect to any contemplated transaction or any other matter or action described or referred to herein.

What constitutes legal consideration to form a contract?