If they do not make necessary repairs, make the repairs yourself and deduct from rent payment. 

Not sure if this is most appropriate forum, but here we go:In my analysis, I deduct 25% from gross rent to account for repair and maintenance, Capex, and vacancy, and to build up reserves. 

Levi Johnson

@Kevin RodriguezYou could also increase the rate a little, do lender paid MI so it doesn't show up as a separate  component of your monthly payment and then get a better deduction on your income taxes.Stephanie

It's a better advantage to have no taxation than it is to generally be taxed, but be able to take deductions against that taxation.That said, some people do prefer to keep these points in mind when choosing where to make certain investments.

Condition of apartment, is when you take possession.. prior to that you have no claim.Do a walk thru within a week of closing.. and from that point on you deduct for damages..Prior is previous landlord, and looks like he's selling because the people are pigs.. might be hard to get rid of them ??

The fees to set up a LLC are tax deductible.  

According to the IRS rules, if you spend at least 750 hours on your real estate business, and more time than any other job or business, you are considered a "real estate professional" and can deduct the losses as active losses against active income.

For purposes of the home mortgage interest deduction and for the §121 capital gain exclusion, the IRS does treat the contract for sale as if you received title on the date you entered the contract.  

My question is, Can I deduct any of the repairs and reno costs as part of our rental hustle (Not forming an LLC yet) even though the house is technically Owner Occupied while the repairs are happening?