Standard deduction has nothing to do with purchasing a rental property.

For non-primary residences, they have to follow all of the following rules to receive a permit: - the property must be a minimum of one (1) acre in size (designed as a precaution to disturbances)- The building standards of the underlying zone district must be met - Adequate parking is provided - Defensible Space requirements are met - Valid water and sanitation must be demonstrated - No more than five (5) bedrooms are in the dwelling As time goes on, they continue to become more strict on the rules listed above here, and are actively regulating it.

However, this is not applicable to standard M1-2 zones.Zoning Map Amendments: If the property is not in an MX district, pursuing a zoning map amendment to rezone the area to a district that permits residential use is an option.

., appliances, fixtures, landscaping) into shorter depreciation categories (5, 7, or 15 years) rather than the standard 27.5 or 39 years for real estate.2.

My tenant had a medical emergency several months ago and is now in a long term living facility (simply put, she can't be on her own).

That being said, here’s what I would recommend for a thorough DD process:-Build a plan in advance (setup a spreadsheet, meet with the team, etc)-be prepared to take a lot of pictures -document notes with each room (we use notes on Apple and share it with the team)-align the team on standardizing information (example: what does “bad” mean, what does “okay” mean, etc - everyone looks at things differently and you want to make sure the notes are accurate during your debrief)-bring in professionals for things you can see, like sewer lines hope this short list helps! 

If they are not managing it to your standards, hire a different property manager and let them manage it.

This is standard business practice - just look up how many settlements the SEC makes annually where companies pay millions in penalties WITHOUT ADMITTING to any wrong doing.- Cash-for-Keys is another example of this!

Standard real estate practices.

Set it aside in a low risk mutual fund or even a standard savings account.