@Russell Brazil THIS is one reason I don’t like duel agency...I’m an investor and duel agency sometimes occurs.

We require tenants to pay for damage as it occurs or as we discover it.

Just make sure to get the proper permits as they are very nosy whenever a renovation is occurring.

I do not believe that is likely, but you should address a plan on how to address that situation if it should occur.

Instead focus on the damage that has occurred and that there is an unauthorized occupant.

However, shortly after he was involved in a motorcycle accident and now has severe brain damage.

The trust should have provisions regarding what occurs when a trustee is unwilling or unable to perform their duties.

Including the fact that appreciation of both price and rent absolutely occur over time. 

The renovation costs may include a contingency reserve and renovation-related costs.Contingency Reserves: Contingency reserves 10 % required for any unforeseen cost overruns that may occur during construction.Unused contingency reserves that were financed into the loan will be applied to the principal balance of the loan.

This is why you fully write off repairs and maintenance in the year that they occur- by definition, those expenses don't add value or life to the house.