That is a safe harbor from the IRS with a couple of caveats. 

You could ask the Contr to use a flexible compound if this happens again, or maybe even now...https://www.dap.com/products-projects/product-categories/pat...Take pictures of every place it occured....it's easy to forget after a couple years....

@Loren Souers Couple of questions. 

My partner and I have a couple units we manage as well in Washington DC.

It seems like PSI has grown, a couple landscape companies that way either sold or partnered with PSI because these landscape companies no longer do snow removal and refer people to PSI.  

Assuming you could take out a couple 100k you would have the buying power to start a cash recycling business (brrring or flipping).

The BRRRR strategy was great a couple of years ago, but it's much harder to do now because of the high interest rates.

The tenants in back apartment were married, was informed by the female that they were getting a divorce but she would be fine paying rent alone.

Thanks to COVID, for a couple of years, you can actually make enough money to be cash flow positive even if you hire a property manager AND have mortgage payments. 

We have been talking about investing in real estate for a couple of years.