Also, consulting with a lawyer who specializes in property tax abatement and deductions could help.

You need an agent who’s more than just a salesperson—someone who truly cares, understands your needs as an investor, and knows how to balance deductibles when to insure, and when it’s not worth the cost.

Additionally, you’ll need to account for "depreciation recapture"—the depreciation deductions claimed during the rental period must be taxed.For example, consider a property purchased for $310,000, rented for six years, and then converted into a primary residence for two years before being sold for $510,000.

If you had sold it a year ago, you could have taken the homestead deduction and paid zero capital gains on the increase in value.  

Here's an explanation of the law: https://portal.ct.gov/dob/rental-security-deposits/rental-se...You must send an itemized list of deductions.

Further, if planned well, you can have lots of operating expense deduction.

He called locksmith which cost 350$.Now, tenant wants me to deduct the amount from the monthly rent.Generally speaking , whose responsibility is this?

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

You can't deduct reasonable wear and tear from the security deposit in Wisconsin, even though I sometimes see landlords try.

You can deduct that from their security deposit, send to collections or sue them.