We could probably write a book on what happened after the tax lien was bought!

In terms of tax consequences it's pretty even provided your rentals are producing enough income for you to write off the interest in the current year and not have to carry it forward.  

I would write in the lease that this area is excluded from the rental agreement.

and I value  your time that you spent in writing your reply to share it with me !  

We write in all 50 states, so if you need any advice specific to your project, you can find me below.  

Is it common to write off all of your rental income each year?

So don't write a property off just because it didn't sell to an owner occupant.

. :)One more question - I understand that I can write off losses from one of the property against gains from another rental property.

Every time an applicant hands you a check (or you write a check), the bank account information in regards to account number and routing number is right there at the bottom of the check.I don't need to know credit card numbers but even if an applicant doesn't want to tell me their bank account name/number the first check I get from them I enter this information into their folder just in case I might find myself filing for a bank garnishment on them sometime in the future.Gail

Sure, they have to write up a new lease but that isn't worth $900.