We could do with less time but the new tenants couldn't move any sooner...If the apartment was going to sit empty for a while, I would clean it right after the lease ends- best time to spot any repairs to be made and anything that might need to be deducted from the security deposit.  

If they don't have that info, then the owner would have it in his income taxes because he will be reporting rents and deducting expenses.  

You would have to get a non-recourse loan to borrow in the name of you 401K which would mean higher downpayment (30-40%), higher rates, balloon in 10-20 years, you would still have to pay tax on the financed percentage but you do not get the to use depreciation, interest deductions, etc.

@Levi Gardner, no worries, we are all students. 

Deduct your down payment and closing costs - which will give you the amount you need to finance.  

Good tax deduction!  

We were happy this happened as we were not going to renew the lease anyways, which was up in another month.So, after deductions for damages, there is some SD to be returned.

The first one had a couple of minor issues we deducted from the deposit and quite a few we didn't, the second had nothing worth deducting, and the third one I am due to walk through in a few hours with the vacating tenant.  

How can I deduct these expenses only for myself since I pay these from my own pocket and not from the rental income of the LLC?

In the mean time, my father, who is a doctor and needs some major write-offs, liked the whole idea of investing and tax deductions (while I, of course, liked the idea of cashflow, and the ROI).