This is essentially a $6,000+ job of a brand new panel and outside shut off valve for what was previously a perfectly functioning system that had never given any issues. 

If I could, I'd first write that I don't have a disagreement with anything you wrote.

Expect to be asked to write a letter attesting to the fact that you value a short commute over the extra bedroom, maybe WFH is over and you have to start going to the office again, the 4th bedroom was your home office, but you no longer need it... that certainly makes sense and would also go through with any lender that ever wanted to get my brokered business again. 

Hi Dave, Thanks for writing.

I write down on them what year they were installed so it is easy to determine if we are close to the end of the 10 years.

What are some things that you can write off?

But meanwhile your loan principal got paid down, you had tax write offs and maybe even did some remodeling.Would you have been better off renting from 2007 to 2015?

I will echo everyone's comments: Find a good PM, stay in C class neighborhoods, know that it's a long game, and that you're going to be writing a personal check now and then if something big goes wrong.

.- There are options for suites and adjoining rooms, which have been popular options for people bringing families because they love the idea of a tax write-off vacation!

For example:General-Filters (furnace, air conditioning, oven exhaust, refrigerator, and water)-Stove burner when the “eye” needs simple replacement-Batteries and remotes that service the premises-Fan and light pull strings-Smoke and carbon alarms testing and batteries-Ensuring appliances are properly plugged in, hooked up, and used-Removing dirt, debris, and lint in and from connection pipes (e.g. clothes dryer)-Tighten loose screws on all home functions (e.g. doors, hinges, handles, socket -Balancing off-balance appliances-Cable, internet, and phone jacks-Fire extinguishers-Systems operation (e.g. security, irrigation, HVAC)HVAC-Monthly A/C filter and drain line maintenance Electrical-Reset “tripped” GFI breakers-Light bulbs (throughout and at the end of the tenancy)-Blown fuses-Reset breakers in the outside and inside breaker boxes-Socket and plug outlet coversPlumbing-Unclog drains or toilets-Caulking around tubs and showers as needed-Gas pilot lighting-Leaky faucets and shower heads-Toilet flappers, handles, seats and seat lids, tank lid, and flush kit-Sink and tub stoppers-If septic tank present, use RID-X as directed on consumer box-Proper cleaning of garbage disposal-Loose faucets and sprayer heads and hoses-Faucet filters (i.e. aerator)-Open exterior plumbing clean out when necessary (e.g. sewage backup)Exterior-Routine lawn (and pool) maintenance-Adjusting sprinkler heads as necessary-On the last month of tenancy, tenant must perform required lawn maintenance no sooner than 2 days prior to vacate dateThere’s a lot to consider as a landlord.