The posted value of the house per the county assessor is below purchase price but we have $40k in equity not counting what we have done to the house.

Great and very accurate video that Elenis posted for you.  

From what you have posted this isnt a demanding tenant issue... this is a "you didnt inspect the property very well and fix all the needed items BEFORE the tenant moved in" issueIf your PM is responsible for the post move out and pre-move in inspections, then they did a crap job.

You might be well off also posting this in a Facebook group specifically for Fort Lauderdale, FL investors.

I am aware of the other depreciation such as the sold unit itself and any other depreciable assets.I used the flooring as an example to keep it simple as providing too much information for a simple question tends to get too far off the answer. ;-)

Hello BP,First post.

10-20% You have gotten alot of good feedback on this post!

This was great information.

The best source for information is a Google search for the specific city or state.Breanna, I urge you to not narrow your focus to a city based on your familiarity.

Hello, I see a few posts from New Zealand, but the last one is from 2020.