Our personal  house had previous work done but the piers were poorly done, and we noticed dry wall cracks and tile floor "separation"  about 2 years back.   

If the IRA fails to pay property taxes or insurance bills - you are then personally responsible, which would be a violation of the IRS rules. 

Here is why there are no responses to your question: it's tricky.Prior to the 2018 tax reform, there was a deduction for personal moving expenses.

Personally I’m having a hard time coming up with Cons, and that the Pros greatly outweigh them.

You will need to allocate the expenses between the personal and rental portions of the house.

Also, I would personally get rid of the dishwasher as well, 1 less liability to worry about.

I personally hear from tons of people who think the market will come down, due to the struggling middle class and the fact that it will get worse.

I'm not.The way around it is a single-person LLC owned by only one person and not their spouse.

In CA, generally, if a tenants dog gets out and attacks a person or pet by way of landlord negligence, like through a broken window or faulty door, then you the landlord could be held liable.

However, minor cosmetic repairs or repairs to personal property cannot be deducted such as paint, replacing broken hardware, fixing leaks or holes, etc.(2) If you have other types of investments (e.g., stocks or mutual funds) that are operating at a loss, if you liquidate those investments to take a loss, you can use those losses to offset your capital gains.