It  allows tenants who don't have enough cash for a security deposit to get an insurance policy for $10-$20 per month that covers a $1000 security deposit. 

Although these items are eligible for tax deductions, I overlooked this aspect when filing my taxes last year.Now that it's 2024, I'm wondering if it's possible to file an amended return to potentially recoup some money from the IRS.

As far as the dog, make sure your insurance allows that breed, some don't. 

I'm concerned about losing the QBI deduction because then the "management company" would be the one active in managing the business. 

It has been lucrative over the warmer months (April - September) and has allowed me to make upgrades to my building, however, I don't believe STR's in Anchorage will make sense once the city passes its new regulations.https://mustreadalaska.com/public-hearing-new-short-term-rental-licensing-fees-and-fines-proposed-for-anchorage/?

Property taxes are 1% of assessed value for residential, and 2% for rentals, plus all the deductions fall off.

@Linda Roberts I would not allow her to use her security deposit as one month's rent, since there might be damages after she vacates and you might need to use the deposit funds. 

It is very user friendly and allows you to charge the tenant for the background/credit check for $42 or so.

@Derek Morrison,To buy a property in a 401k you need a non-recourse loan since as a "disqualified person" you are not allowed to provide a personal guarantee for the loan.

That is why I'm trying to buy in the area that regulations are relatively less strict, like independence, raytown, grandview, and try to buy single families or townhouses, where you bave no HOA at all or HOA allows short-term rental.