You probably won't get paid, but it should help knock her and hopefully prevent her from doing this to someone else.

If they allowed you to install a generic box for the address, what's to prevent everyone with a multi-family from doing the same and thereby adding hundreds or thousands of addresses to a city?

I agree with Sam and air on the side of caution with using a free lease from any site.

We are currently in the rehab stage of the property, and we are doing everything ourselves for the renovation excluding the heating and air.

You do realize the market has stops in it to prevent trading in certain circumstances.

Your PM should have prevented this situation, imho.  

Doing the right thing and treating good customers like good customers doesn't prevent you from making money - it will help you make money in the long run!

It's designed to prevent taxpayers from deducting passive losses against non-passive income, which often leads to situations like you've described.Your concern about potential double taxation on the $2,000 net income is valid.

I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

I have heard of thermostats that you can install that have a minimum temperature setting (say, 50 or 55 degrees F) to automatically turn on the heat even if the tenant doesn't have the heater on, and we'd like to put those in to prevent frozen pipes.