Value adds are always a great opportunity to generating additional more money.If you have extra space on your property, consider applying for an ADU. 

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Benefits include immediate tax savings via bonus depreciation (60% in 2024), but depreciation recapture tax applies upon sale.This post does not create a CPA-Client relationship.

Let's view this another way, a tenant applies to rent who was convicted of burning down a previous landlords property.

Sounds like a keyboard cowboy to me; one with all hat, and little cattle.Maybe you should apply to be an advanced moderator.  

Definitely will apply your input.

There is certainly room and reason to apply different approaches and many different approaches can work well. 5.

I just had a great meeting with Justin (he’ll have my email) last week and would appreciate an opportunity to learn how systems to avoid situations like the above have been applied.

.- If it happens - would it apply retroactively to 2024?

Let them apply against the loan.