Make sure you are getting all the deductions.

After that date, we'd deduct $100 from the OH&P line item for every day they weren't finished.But keep in mind no contractor would be willing to agree to this unless you were feeding them steady business and they'd worked with you in the past.

If we deduct the monthly loan payment of $328.18 from monthly expense of $890.68, it leaves us with $562.50 which is 45% of the income $1250. 

Have your attorney draft a letter to them stating any damage will be deducted from their security deposit and if there are cost overruns, you have authorized your attorney to file suit against them.

It is not simply gross rent - monthly payment; it will depend on other deductions you have taken. 

That way if they pay the rent amount but not the utility/late fee, we can deduct the utility/late fee amount due and hit them with late rent because they didn't pay the full amount of rent. 

In the scenario of the HOA being able to address the issues successfully by raising dues and special assessments, I could at least take a tax deduction for them.

Appliances die, leaks happen, and even insurance has deductibles. 

Basically he told me he was a CPA and mentioned that a lot of investors he does taxes for leverage everything and leave so much deductions on the table vs income...Basically he was telling that if I calculate out my deductions, I could finance only x amount to optimize my taxes and increase my Roi overall over paying all cash even with the higher interest rates on investment loans

However, you can still create your own LLC or Sub Chapter S Corp through which can you run the income through and still deduct your investment-related business expenses through.