Sec. 1.167(a)-(11)(e)(1)(i) provides that property is considered to be placed in service when it is “first placed in a condition or state of readiness and availability for a specifically assigned function” (emphasis added).

Consider building a network of local contractors and service providers who can assist with property maintenance.

Your ineptitude may amplify your losses:(You're also jumping to assumptions.We've had out-of-the-county investors that we could NOT legally send funds to because they hadn't supplied us with the IRS required documents - and they didn't respond to our numerous communications to get them.Once we obtained the proper documents, we sent them their funds - by the way, we did send monthly Owner Statements, so they had the info to see what was going on with their portfolio.So, that brings up another question - what information have they been sending you and when have they been communicating?

If so, a best course of action would be refinancing those into lower-rate perm debt which should lower monthly payments and maybe provide some cash-out - that would be the cleanest/most conservative way to build up some more capital

I took a HELOC on my primary residence for $200k.Used 35k down, 12k burned by a nefarious “contractor”, we eventually obtained a real contractor who did amazing work, got it rent ready and cost about roughly same amount as the first and finally got it rented.

that prompted the discussion.I see a trend on tiKtok where people decorate entire walls with trim, form, LED lights etc and we try to make it clear at move-in that all modifications require approval and the property has to be returned in essentially the same condition as originally provided to them

Most cost segregation firms will provide a free cost/benefit analysis quote to help you determine if the tax benefits from the study will outweigh the costs.

@Marc DelgadoSince I provide CFO Outsourcing services to my clients (which includes book keeping) I wanted to weigh in here with my advice.

We provided that and he was happy to get on board with those strategies.

It depends on your local laws, but any paperwork you can provide the tenant to indicate that they need to respond might help.