Another term for that is that risk of loss must have passed from you to them. 

I want a simple place to track my P&L's and tax implications like accumulated depreciation and tax deferred tax losses. 

@Ryan Thomson Sorry to hear about your loss.

For risker applicants, require a guarantor (who is not "judgment proof") to agree to pay for damages and unpaid rent.Unfortunately, you cannot eliminate all risks of loss, so there are times that a tenant may end up causing damage beyond the security or coverage you have to pay for damage, but the above items will help.

I agree not to pursue eviction based on rent amounts reimbursed by these funds and agree to dismiss any pending eviction case that is based on or seeks to recover the reimbursed arrears.

But if the loss was caused because of their poor workmanship do you want to have them redo it. 2.

The goal is to not eat losses every month for the next 5 years while I wait for rent and price appreciation.

If you were to be sued and loss, where would they fall in terms of collecting money?

I will recover this cost of new heating equipment in 2 years through the savings of what I paid this year for heating oil.

Alot of first time cost seg folks come to us with losses generated all excited to offset w2 income, only to find out they did not qualify for the STR loophole properly and cannot use the losses against active income.