So lost rent or ETF that is owed would constitute "damages" in my book.One thing I would change in your ETF.

What constitutes a good deal for you definitely will change over time and it's hard to answer.

Aside from determining when a renovation constitutes preventive maintenance, there is the factor of basic human dignity.

Question what constitutes each grade?

Most agents don't (although they will tell you they can find you an investment property...all the while they have no real idea what constitutes a good property).

Lighting, flooring usually constitute more than 10% of the total cost.

The L/P may constitute a sale and lock the property.In most cases these are not the best approach to take, especially for a term of more than two years.The popularity of these is anchored in several matters with issues.

And, what constitutes an incentive in your definition?

@Nathalie Hirsch There are certain 'safe harbors' and guidance from the IRS in connection with vacation home rentals.The IRS will not challenge whether a dwelling unit qualifies as §1031 exchange property held for productive use in a trade or business or for investment if: (1) the relinquished property is owned by the taxpayer for at least 24 months immediately prior to the exchange and a replacement property is owned for at least 24 months immediately after the exchange (the “qualifying use period”) and (2) within each of the two 12 month periods constituting the qualifying use period, the taxpayer must: (a) Rent the property to another person or persons at a fair rental for 14 or more days; and(b) The taxpayer’s personal use of the dwelling unit cannot exceed the greater of 14 days or 10 percent of the number of days during the 12 month period the dwelling unit is rented at a fair rental.

I guess what I'm asking is if rentals count against your income until you have an established rental history and if so what constitutes "established"?