Dylan’s quick response and willingness to go out the very next day made all the difference.But not every story ends that way.

They’ve been very responsive and seem to have done a great job screening and placing tenants, which took about 6 weeks (keep in mind I’ve not totally rehabbed the condo, older kitchen, bath and carpet), so renting out took a bit longer.

Since the Internal Revenue Service (IRS) doesn’t consider child support taxable income, I would not consider it in the rent calculation unless you have a HUD-specific home.According to hud.gov, “[rental property] owners must count alimony or child support amounts awarded by the court unless the applicant certifies that payments are not being made and that he or she has taken all reasonable legal actions to collect amounts due, including filing with the appropriate courts or agencies responsible for enforcing payment.”So, does child support count as income for renting?

If you provided the tenant the HOA rules & regulations prior to moving in, then I think they should be responsible for paying the fine.

Moving to an LLC will help going forward to show the property is owned by an LLC rather than you individually.

Is it in partnership OR Individual tax return? 

@Brandon Craig, it sounds like you got your answer from two very seasoned individuals. 

@John Patrick Lasher..you have some good responses here but I figured I'd throw mine into the net. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.There are over 20 real estate accountants on this site.

It is always great to meet like minded individuals.