Though, you only need to live in the property 2 of the last 5 years to receive the capital gains tax-free.

Be honest, document everything, and treat your tenants fairly.I know many Landlords with decades of experience and they've never been taken to court once.

The people receiving section 8 aren't necessarily 'shady'-- they are poor.You will not be able to run low income properties like you would run properties rented to high income/high credit score tenants.

When I have previously checked into this with my accountant it seems their are very specific tests to pass to be considered a materially participating passive investor, namely that you must spend half of your time and at least 750 documented hours in passive real estate to qualify to deduct depreciation. 

Someone, usually the title co. handling the closing for an extra fee, has to go through the process of contacting the irs, showing documentation of the sale, the amount due the person owing the lien, and get the irs to remove the lien from the property, for a partial payment of the lien.  

Are we locked into paying the initial contracted amount since we signed the document? 

If you mail, you don't even know if they received it much less opened it. 

We make a practice of ALWAYS emailing leases in dually executed format and documenting that way.

We are conducting market research to see how the vacation market responds to this product.The first 5 vacation rental owners to inbox me will receive a Bath Caddy.

Some states require you to pay out interest if you receive interest.