I'm not even really sure how I would report it, I figured the amount of rent I collected would just be treated as personal income.

We are trying to stay mindful of changing conditions and being prepared to take in the last bit of cloth if needed.We are battening down the hatches by:Selling our primary house which we have slowly live in renovated now instead of 2022 as originally planned.Relocating to our market area in the event I need the 8% margin currently going to a property manager to maintain positive cash flow.Buying low / zero down opportunities only.Realizing equity to bolster cash reserves and getting rid of anything below a B class property.We are treating our break even point on our cashflow as the drastic action needed point versus when we run out of cash. 

If you don't layout the ground rules to tenants, they will treat the home however they please.

When determining material participation in rental real estate activities, each interest of the taxpayer in a rental real estate activity is treated as a separate activity [IRC Sec. 469(c)(7)(A)(ii)].

The brownie, a quart of chocolate milk, a 5th of Kahlua.

It was more so of a question about how banks would treat rent credits which joe helped clear up by saying...don't do it ever....lol.

But if you were to buy a lake house to be used for investment and treated it like an investment that would qualify - even if you used it some for personal use. 

That was a tough one emotionally for sure, especially at that age for me, and even more so because they all treated me like I was a part of their family organization.

1) Clear and realistic guidelines for what they want & don't want (If you tell me find me a good deal, I don't know what that means to you)2) Decisive & Honest (Tell me specifically why you like or don't like a deal) 3) Professional ( treat everyone in the transaction respectfully, do what you you are going to do)4) Respectful of agents time ( don't ask me to shotgun low ball offers, or give me busy work with comps, that's an amateur move)5) Committed & ready to close ( If I meet your criteria & present pull the trigger & close)6) Generous (If I am rewarded for finding a great deal for you , if you start trying to be cheap & re-negotiate fees I'm out)

Is there any way of treating it as business income, perhaps Schedule C, so that:1. it may be deduct expenses like wire fees, bank charges etc for this income2.