I suspect in a more urban area, with a lot more entrenched and generational poverty, things would be a bit different.

My vote is to repair, repair, repair.Water damage can lead to significant problems, from blistering / peeling paint to ceilings collapsing and electrical shorts.

The second piece is whether or not you pass the Material Participation Tests found in IRC 469 and the third piece is whether your participation rises to the level of Substantial Services (think hotel, B&B).4) My CPA Says I can't deduct a loss that was generated! 

There are good value deals in your market if you search hard and long enough, it sounds like your lead source could be revamped in my opinion.

The reports you can create with Stessa, such as an Income Statement, Balance Sheet, etc, are similar to the kinds of reports accountants are used to working with since other finance/rental software also generate very similar types of reports.  

@Dave GreenHere are the three options for generating passive income and scaling up a property portfolio: selling rentals and buying a multifamily property, paying off your primary residence, or holding rentals and maintaining cash flow.

My Co-Founder and I have developed a real estate platform that'll generate a Investment Memo.If you're still interested or curious to see what we create, let's chat more, thanks!

They wonder why our next generations are turning into folks that can't handle adversity, it's because they cannot. 

The PM company has to generate these owner statements and emails them.

Flippers will have to price in these added expenses to maintain their margins, leading to lower offers on distressed properties.