I should also mention that the seller has owned the home for 5+ years and so it was he who installed the wooden panels on the side. 

So now I've got the whole bathroom gutted cause the cpvc ran under the subfloor, which btw is now sitting on the ground making an invitation to move right in and become my next tenants, but the living room now has a nice trampoline bounce effect when you jump on the floor cause all my joist supports either washed out or sank from under the house!

An uninsured worker that gets hurt on your property or a contractor digging up a gas line with a back hoe or disposing of toxic chemicals like paint or solvents into an environmentally sensitive area can result in a huge liability that can easily exceed the value of the property.

- apartments don't come with a washing machine 

I'm also a graduate of Wash U (undergrad and grad school).

Furthermore, the deduction is phased out for adjusted gross incomes between $100,000 and $200,000.And while we are on the subject of taxes, it is worth noting that some of the deferred income taxes will come out in the wash in the form of higher capital gains taxes, if and when the property is sold.

If you charge yourself rent, you both are receiving income and paying an expense as a tenant, which is a wash.

It is already remodeled so no work needs to be done on the inside, just power wash outside .It is a 3 Br, 1 bath SFH.

Tax consequence is most likely a wash or a loss.  

There is no way I am going to clean the house, wash the sheets and whatever else for $10 a night.