However, minor cosmetic repairs or repairs to personal property cannot be deducted such as paint, replacing broken hardware, fixing leaks or holes, etc.(2) If you have other types of investments (e.g., stocks or mutual funds) that are operating at a loss, if you liquidate those investments to take a loss, you can use those losses to offset your capital gains.

Be sure to talk with your guys the expectations for "clean up" as ours was still caked in layers of dirt, but the guys swept up the broken floor and pieces. 

@Scott TrenchJust my 2 cents but I am Not sure either one of these has enough juice to stand on their own - notes would be most similar to private lending if they were to be broken up.

So don't buy rental but keep buying primary locally... you can even double your networth very quickly buy buying broken-home and flip it around. 

House Hacking can be broken down into three distinct phases: when buying, while living there, and after moving out.

I'm not overly interested in purchasing properties and having to deal with tenants, broken toilets, etc. - my day job keeps me pretty busy.  

You may have the tenant on a technicality in that they didn't report the broken disposal and can't claim they didn't have time since they had time to pack their belongings and move out.

When a guest calls because the door lock is broken, I have to pay our person to 1) Travel to the site to assess, 2) Go to Lowe's or HD for the part, 3) Return to the site, 4) install the part, 5) travel back home.In the mountains of Tennessee, that can be a 4 or 5-hour process really easily. 

Drainage pipe is broken/clogged somewhere and water drains freely under the driveway.

Talk to enough homeowners and you'll soon find someone willing to sell at a wholesale price, especially if the owner lives out of state.Driving for Dollars: The last method is to simply drive around and look for homes in disrepair... things like uncut grass, broken down cars in the driveway, or properties that could really use a fresh coat of paint.