All these software will guide you on your declaration asking you basic questions to determine what you need to do and what not. 

see these threads for what not to do.https://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...

Great resource for everything an investor would need to manage a rental and reviews about PMs, contractors, and what not.

Its a bit scary jumping into a new market and learning what to do and what not to do as a Canadian investor.

First, it's a plan-z measure, that if they have to take the asset back, that after all the expenses of such and what-not, there potential losses are mitigated to $0 or as close to $0 as possible.

On the next episode of "How to collapse your own product by sending in new users to spam the most experienced real estate investors on the planet by telling them how good something is that is already being done by a million other companies after the CEO gets kicked out of the forum"...Another lesson in what not to do and how not to respond.

Here is an example of what not to do - "I have $1m cash to burn on investment properties.

Yes, I knew everything to the last detail because I spent those hours before hand doing my homework, getting the data and the data told me what to do, what not to do, and how to do it, to what level. 

They are also compensating the local government there to stimulate economy and make roads and what not better.

Maybe your just regurgitating what programing CNN or what-not platform is pumping, in which case you should take note and concern it is COMMUNIST ideology your exposing, and maybe reconsider who your lending fealty too.