Austin does require you to pass an energy audit in order to get your certificate of occupancy but those standards may not meet the same federal guidelines.Here is the key text from the pdf:50% energy efficient standard.

2) leases typically go month to month after lease period on standard contracts like from your realtor.

If you come across a home with $0 in repairs needed that is move-in ready you could lock it up for higher percent then assign that to a buy-and-hold investor (from what i've heard and seen they will pay more for properties than the standard fix & flip).

Most, though not all, money spent after that will be deductible in the year you spend it.

Assuming he agrees do we just mutually sign a termination agreement, and I deduct damages from his security deposits and that's it?

Yes, set aside for low-mod housing, first time buyers meeting bond money standards usually.

If they cause damage intentionally or due to negligence, you can deduct the cost from their security deposit at move-out.

There is no standard forms in the note business.

Money from your rentals income and apply it to your homes mortgages loc , home interest is not tax deductible but apparment interest is.

Once its rent ready you can start deducting your ongoing expenses.