For example, if I send my son money for books, can I do so as a property manager fee so that this is also tax deductible.4) If my son, finds the monthly payment to be to much while he is in school and I end up shouldering some of the costs, how long per IRS rules can I carry a loss on the property.Any help would be greatly appreciated.Thank you.

Bruce Petersen, a well-known syndicator who has been the GP in over 1,100 units, says in his book Syndicating is a B*tch, "About 40 percent of people do their first syndication deal and never do another one" (speaking about the GP). 

From my experience, Aircover has been covering loss of income if there were bookings for those days. 

The bad financial situation was that we bought a residential painting franchise that we are finally out of.  

A couple months later finally starting to feel better.That's when I called in a professional mold remediator.

While I don’t know their program or them, I’ve yet to see a mentorship program that cuts the time necessary to obtain the knowledge required; that has a monopoly on any tactic, strategy or technique that’s not common knowledge; and or that provides any ongoing “help” that’s anything but “basic”.If you’re not well versed in principles, finance, and law, either read books on these, attend college classes, or take a course(s) leading to real estate broker (salesman) licensure.  

Make gradual rent increases to get them back to market rates (research the legal way to raise rents).If a friend or family member acts offended that you're finally taking the investment properties serious, that means they know they've been taking advantage of your ignorance. 

When they book it just be close to that price.

Since traditional agent training doesn’t cover investing, supplement your learning with books, podcasts, and investor meetups.Good luck!

Their insurance has asked me to return the month's payment for the remaining days of their rental (Unfortunately, I did not have a cancellation agreement).I am unsure how to handle this situation, especially since I couldn't fill the majority of the rental dates and had to offer discounts for the days I did manage to book.