Before we address the impact tapping that equity may have (via a HELOC), it's crucial to determine what you'll experience from a financial perspective.Recovering your down payment is huge but once monthly expenses start to hit, you may have that coming right back out of your pocket. 

Also include in the letter the date you mailed it, and the complete address of the property, including the unit number.  

I send him a punch list of items for a particular address (we have lots of section 8 rentals) and he goes out.

I visit the property occasionally for personal reasons, but mostly to address maintenance issues and finish cleanout.How do I handle income & tax deductions?

Our current thoughts:Subject address and details.Recently renovated comps in the area.

The IRS doesn't mess around with that kind of stuff once they start looking.But as far as accounting goes, you're right, the values, date you id, and address are going to be needed by your tax payer.

Which would seem to exempt her from filing this form.Coincidentally, I see where you addressed this exact question in a previous thread on this topic: https://www.biggerpockets.com/forums/51/topics/81648-1099int-for-private-loansThough, admittedly, I could not quite understand your response in that one.

Lots of great points here, I'll address them by response: @nik moushon my research shows me a hand full of both surveying and geotech companies in the town of fairplay, as well as nearby in summit county, so I'm hoping travel costs will be kept to a minimum and stay around 3k total.

If your other income is higher than $150,000, then none of your losses are deductible in the current year unless you qualify as a Real Estate Professional (addressed in item 6 below).5. 

I don't have the tenant's current address.