The disadvantage to you it no principal reduction the first 12 month.

It is simply a rate reduction. 

Will they ALSO be taxed again on their own personal level on that final distribution, or is the entity-level tax on the shoe (and subsequent reduction to their final payout) the only taxation they'll see?

From my experience AirDNA seems to be high on the occupancy so I'd do a reduction on the AirDNA numbers by 10%.

We have a mixture of residential and commercial investments in the Eastern panhandle of West Virginia, and are looking for a good CPA/tax specialist/possible bookkeeper moving forward to make sure that we are fully compliant while taking full advantage of all of the deductions, reductions, and write-offs available.

If you are using airless spray equipment, expect around 20% reduction in coverage.   

I'm not talking about a large rent reduction but just slightly below market.

They like to look at major plumbing leaks, bad roofs and the like for price reductions.

Bought a reduction to our risk factor. 

Physical plant costs money and some banks can cost effectively close branches without a material reduction in service(s).