Expenses for the building as a whole - insurance, property taxes, a utility bill that is not separately metered, etc.At the end of the year, my clients give me the data broken out as above and I work the calculations (generally based on square footage) to get an appropriate percentage for the shared expenses, the direct rental expenses and your personal expenses that are not deductible now (but might be later, if you move out and rent your unit).So while you don't need formal bookkeeping, you do need a way to keep those expenses organized - kind of like how you do for your charitable contributions or other specific tax deductions.As for your questions:-Would non-structural improvements to the unit I'm living in (I.e. updating appliances, flooring, etc.) be on a reduced depreciation schedule, or would it all fall under the 27.5 year schedule of the property?

I hope to be a position one day to follow in your steps.I can give you a few charitable non-profits than my wife and I volunteer for, but is there a certain area you and your wife would prefer to focus on, such as children, animals, the homeless, the unemployed, etc.?

Another question on Charitable contributions. 

I really get the sense that they are good people who have done well in RE, and want to help others do well in RE (and also do charitable giving with some proceeds).

If our cash flow can keep us from drawing from our retirement funds as much, we can use the savings to create legacy wealth for family or charitable entities.

Another tax-beneficial tool that is sometimes used is the Charitable Remainder Trust. 

He built a business around that by hiring other homeless.While he came in to my Charitable classes to learn Real Estate, I also taught how to trade stocks and options.Mustafa loved to trade when he was exposed to it.

I’m really surprised this didn’t show up, this is a charitable contribution in which you typically get around a 4x multille deduction on your “investment”.

Medicine will done on a charitable basis for me.I have a Masters degree in Health Ed and currently working on my MBA.I don’t regret higher education and I wholeheartedly applaud those who do not have all the degrees and are super successful in investing and business.I often think about obtaining a real estate license but I will first see how my MBA goes.

I have begun to take some losses as a result of more charitable landlording.