We've had some success recovering money owed, and we've seen it on credit reports.Recently a former tenant attempted to co-sign for another prospective tenant.

For those of you who are starting out and want to learn more about real estate depreciation and cost segregation! Cost segregation can be a complicated topic, but I tried to make it simple and easy to understand!
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The creditor in this case would be whomever the Promissory Note is owed to - IE - whoever the borrower borrowed the money from to fund the loan.

Hi! I have a short term rental property. It's a 5th wheel located at a campground. It does not get moved. Will the RV be depreciated at 5 years or 27.5 years? I am unable to find anything giving me a for sure answer. ...

Because you won’t owe anything, and because I ASSUME you aren’t going to bother trying to go after them legally.

Within a few years, I was able to pay back every penny I owed my family.

You can find the most recent sales price for the property on the local tax records website or by doing a quick search on Zillow.

@Armell MayersBigger Pockets is a great place to find a real estate tax accountant.

Letting someone out of the lease is not the same as nullifying that the lease ever occurred; it is just an agreement that you won't go after any additional months of future rents that would otherwise be owed.

Negligence is only a cause of action when there is a legal duty owed.