Are there any expenses that a property management company commonly incurs during the rental (eg, cleaning between renters, marketing, etc.) or are these usually all passed on to the owner?

This is a common situation now in the lower mainland and also one I've found myself in.

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

Most commonly the owners in the colder climates select the lease expiration to stretch  over a year to ensure if falls between March 31 and August 31st when possible.

@Maranda RobisonYou can not sue yourself or seek damages for your own Error or Omission under your own policy. 

Is it common to ask for credit card account numbers & balances, loan account numbers and balances, money market accounts, etc.  

What the big deal of the whole in trouble thing is the common sentiment people have against Voucher holders.

I personally believe that IRR is a far superior metric compared to commonly used real estate metrics like cash flow, CAP rate, and cash on cash.  

Setting up an LLC Agreement properly with the help of an attorney will be a more substantial investment, but well worth it and even if you don't choose the LLC you would be well advised to have an written agreement in another form (partnership or tenant-in-common agreement).  

Is this common?