I send my tenants a screenshot of my excel tabulation and it computes what they owe in bold Red.

I own an up to date high rise condo in the Lake Merritt area of Oakland that is paid off and rented to excellent tenants in a month to month currently.  

Excellent replies and yes I'll wake away before I settle for a mediocre tenant buyer!

Steam Pro is excellent.  

In which case the probability of the IRS examining your return, discovering the grey area issue, taking the opposite position, and winning on appeal would have to be greater than 80% for your expected losses to be higher than just paying it.In their best year ever the IRS is never going to get that probability above 2%At 2%, we are risking an expectation of losing $2.50 by 'going grey' against an expectation of losing $100 by not going into the grey. 

are excellent reasons as well.

You will not always win with a higher offer...it's the person that they feel can close.

For Florida there is a excellent book with all the forms by Warda called Land Trusts in Florida.You can also look at Mr Land Trust aka Randy Hughes https://www.landtrustsmadesimple.com/I would highly suggest that for your first land trust in that state you either spend the money with a comprehensive course specific to that state or hire an attorney knowledgeable for that state.

FHA loans will not allow you to do much "fixing up" as the property has to be in excellent condition to pass the inspection.

To your point about having money left for renovations, you can put as little as 5% down on a conventional, but how that's affected by the investment status is decided by the individual lender.Then you have "investment" loans, which will most likely all require around 20% down, ours requires at least 20% with excellent credit.