One was at 17K and I was at 15K that was the closest.On top of that of the claims I filed even none of them meet deductible so I got zero from it, all the carriers mailed me letters demanding to see documentation of the repairs including licensed contractor official invoices, before and after pictures etc...so you won't "pile on" the claim on the next hurricane.There is also one carrier I think it's called People's Trust which is becoming popular now in FL and there is a lot of talk about their "First Response", since if you go with them you have to call their first response team or you forfeit your claims. 

Stop issuing 1099-MISC with box 7 "non-employee compensation" instead of box 1 "rent"Stop including refundable deposits in rent incomeProvide annual reports clearly delineated by propertyLearn the difference between maintenance, repairs and improvements and report accordinglyReport insurance reimbursements separatelyProvide supporting documentation: itemized contractor's invoices, insurance adjusters' reports etc

Dang this was a fun thread to watch, it's a bummer it twindled out.

There is even an option to collect payment straight from the emailed invoice through PayPal if you need that option.

Process looks good with the lender, however they are asking us this:o Did you make substantial improvements to the property and if so what were the improvements and do you have a builder contract or invoices to document cost?

We receive an invoice for the total number of cleanings and then render payment.

  (2 years of tax returns business and 2 from personal, P&L statements down to the month, invoices, and since you have 3 extra units make sure you include the potential income you will have with tenants in the property.)

I use quickbooks online (I bet all the quickbooks softwarewill do it) You send them An invoice in there email , they can pay by check online, totally free for the check online but if  you forget to uncheck the box to allow credit card charges, then they will have the option of paying by credit card (3%fee deducted for you)Thier check paid online through quickbooks takes over a week to fund , that’s the only downside 

What they quickly discover is that virtually a single capital expenditure, a few inflated vendor invoices or a slow turn, could literally obliterate that month, quarter or year of being in the black.Likewise, PM's have to be concerned with much more than "Tenants, Toilets and Trash".

If the improvements made were substantial then I might also provide invoices paid to contractors as well as a scope of work to justify financing at a value much higher than my initial purchase.10% vacancy is definitely higher- if you've got a stable property that meets your markets rental demands then I would use your market's going vacancy rate (which may not be representative of your EXACT asset).