I won’t go into details of the rentals in this post, but I can say, without BiggerPockets and my mentor/business partner, I wouldn’t be writing this.

Elliott was asking about how to write better business plans.  

@Fred Heller Do you have a recommendation for a reputable insurance company that'll write policy for a rental property in the Richmond, TX area?

Some contractors weren't great about writing detailed invoices so in some cases all I have is a large check written to 'roof guy'.So.... question: is there alot of scrutiny from the IRS as to how you determine the basis?

Consider your long term strategy/goals (write one out if you don't have one).  

Thanks for the detailed write up! 

Definitely not writing off Memphis and always up for some convincing.

Sit down at your computer and write your rental criteria down.

I am writing to you randomly and ready focus with my full potential!

In other words, write that gift off in your mind so that when they stop making payments or the litany of excuses starts, you've already accepted it as a loss.And if a bank will not lend to them, then I think you have your answer - and hopefully you can blame it on your "partner".