If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

It's not necessarily saying all of your income from rentals ever will be tax-free (though it could be). 

When real estate investors hear about Debt Service Coverage Ratio (DSCR) loans, one of the biggest selling points is that some don’t appear on your personal credit report.

If it's a wholesale deal or there's some competition, then usually not because time is of the essence (and often wholesalers provide inspection reports).

I still turn them all over for collections with an agency that reports them to the credit reporting agencies.

Simply report your accurate rents and expenses which you should be tracking as well and not simply relying on your property management company and their reporting. 

It will auto download bank and credit card transactions, give you reports by account, category or property in any form you want. 

You can continue using TurboTax if you're willing to learn rental tax rules, as rental income is reported on Schedule E with deductions for mortgage interest, property taxes, insurance, repairs, and depreciation.

I created lists, searched virtual markets and was able to skip trace all of these for free...or so I thought.

Many instant reports pull limited public data and often miss key records like evictions, judgments, and liens—which no longer appear on credit reports.