@Alecia Loveless, I think what you have to lose by taking an action like that is potentially deducting the value of those items from what they owe you.

Turned out their earnings are so large that they hit limits on what they can deduct on their tax returns.

If you switch the property to personal use as a vacation home, you would no longer be eligible to claim rental-related tax deductions, including depreciation.

The interest is deductible.

I guess the only good thing about a prepayment penalty is that is is considered prepaid interest on your 1099 statement which may help with tax deductions.

From what I understand, seller concessions are like closing costs and commissions and are deducted from the sales price to calculate the capital gains.

Can I deduct any expenses incurred throughout the entire year 2023 for that property such as utilities, insurance, repairs, mileage, maintenance and improvements?

Is it possible for me to declare it as a repair and deduct the expense in the same year?

That first month's rent is then deducted from the $4,300 they owe you.

If tenant does not like the truth, we have records of when they paid, the condition of the unit at move-in and move-out, the record of security deposit deductions including photos.if a tenant wants to sue for the truth, I consider it a cost of doing business.