@Sara De La Cruz We aren't sure.

The Centro de Recaudación de Ingresos Municipales (CRIM) is the office on the island that deals with real estate docs, assessments, taxes, etc... nothing ever happens fast at the CRIM. bring a lunch and your patients.

Delaware and Wyoming are popular choices.

Sell actively managed properties into passively partial ownership products like Tenants In Common or Delaware Statutory Trust products.  

Quote from @Paul De Luca: @Nolan MahoneyIs this a lease you created? 

Hi @Steven De Lange,   Thanks, yes, it works fine with a full-service property manager - would be nice to be able to find that rent collection service a-la-carte...

De minimis safe harbor. 

In your case, judging from the amount looks like you can deduct the cost of the rehab as expenses using de minims safe harbor rather than capitalizing and depreciating it.The safe harbor applies to amounts paid during the tax year to acquire or produce what the Regs call a “unit of property” (UOP), you must meet these requirements: (1) at the beginning of the tax year, the taxpayer has written accounting procedures treating as an expense for non-tax purposes amounts paid for property costing less than a specified dollar amount (which will be 2500 for you), or with an economic useful life of 12 months or less;

Fellow BP Members,Recently, there were four community meetings to discuss proposed housing code legislation in WIlmington, DE.

There are other ways to take full deduction such as de minimis safe harbor or 100% bonus depreciation.