One point she makes is that your ordinary CPA is not knowledgable enough to handle all the idiosyncrasies of REI issues - and errors can be very, very costly - so you need to be sure, as you know, that you have someone who really knows the tax code.Good luck!

Photos are taken before and after each occupancy however I do not take pictures during their residency unless for something critical or out of the ordinary.

For one, any interest income a taxpayer receives is indeed taxed as ordinary income. 

If the Tenant does not return the home in the same condition it was received, minus ordinary wear-and-tear, the Landlord is authorized to use the security deposit to restore the rental to its original condition.

Determine how you're going to track ordinary wear and tear in the non-common area they are renting. 

-Make clear that any damage above ordinary wear and tear (and not the result of any ongoing maintenance issues) can still be claimed against the security deposit. 

If this is yes, you may be eligible to write off some items to come up to ordinary income.

I don't think they are particularly unreasonable for a careful landlord, but I think the quality of tenants in the area might not be so great to begin with and including these details upfront makes me come across as a tough landlord:  Application: Background check ($25) Past landlord, employer, and personal referencesLease Points: Initial lease term is 8 monthsMonthly rent of $865 due on the 1st of each monthRefundable Security Deposit of $865Pet Fee (if applicable) of $200 upfront and additional $25 per monthOptional FrontPoint security system for $100 upfront and additional $50 per monthTenant pays for water, gas, and electricityRefrigerator and range oven includedWasher, dryer, dishwasher, and microwave not includedNo smokingAbsolutely no illicit drugs or other illegal activityTenant responsible for damages beyond ordinary wear and tearTenant required to purchase renter’s insurance before move-inNo assigning or subletting without landlord’s permission* The above list is intended only for purposes of convenience and is in no way incorporated into or comprehensive of the Lease Agreement, nor is it binding.

Be sure to do this within the time period allowed by law, which may be 14 days or 21 days, depending on when the rental agreement was signed and the terms in the rental agreement.Depending on the age of the carpet and how long the tenant lived in the unit, what you see as carpet damage may be seen by a judge as ordinary wear and tear or the carpet may have reached the end of its useful life.

With condos you get to sell to ordinary people.