Careful timing and classification as either improvements or repairs can increase your deductions.Bonus DepreciationUtilizing this strategy, you are allowed to deduct a portion of the cost of certain qualifying assets with useful lives of less than 20 years in the year that you place them into service.

Make sure any additional paperwork that needs to be filed with the court making you the plaintiff is taken care of. 4.

We reluctantly signed a 2nd year with him because we did get all of his late payments and the property was taken care of.During the 2nd year, I let one late payment slide as a courtesy due to tenant family circumstances.

I have never heard of Section 8 providing rehab funds.If they do, be careful of the strings attached. 

What should I be careful about compared to buying an existing property, and are there any key differences? 

Really though, I'm probably undecided as to whether I care so much that I'm ruling places like Tampa/St.

In Panama you need to be especially careful to AVOID buying any ROP (right of possession) properties. 

If you're worried about damage with a long-term rental, carefully vetting tenants and maybe hiring a property management company can help.

is there any one could you hire to take care of it?

Crunch the numbers - Carefully calculate potential cash flow, ROI, and cap rate.