I would mention here that a typical condo or single family does not qualify for the Act 60 TOURISM tax credit (which gives you up to 40% back)  - the project needs to meet certain qualifications as a guest house, hotel, villas or bed & breakfast - it can be as little as 3 rooms.  

Quote from @Nicole Rhim: Skip the shower door.

Sounds like you skipped cap-x and just took a hit of "hopeium" instead. ya, that stuff will rot your brain and drain the wallet fast. 

Like a trust.LLCs do not open some magical door to more tax deductions.I tend to recommend LLCs where the properties are located, but then those LLCs are owned by a Wyoming multi-member LLC.But if you think that you can skip fixing that loose railing and hide behind an LLC when the tenant is injured, you'll regret it.

I agree some some posts here... yeah, you cannot just skip deducting expenses since that does break some fundamental rules.

In group rental situations, our lease says EACH tenany is responsible for the total rent if one skips out or leaves. 

When I first got started, I made a huge mistake by skipping this step.

(Before they may have run in to financial trouble and skipped out.

.* Some buyers will decide to skip a showing if they know the seller is unwilling to consider a buyers agent commission* Sellers will be presented offers as "net to seller" which will still include buyers agent commissions. 

You have to budget another $1k a month for skip tracing in addition to their $1299 monthly fee.