Expense Item Monthly Expense   Mortgage (includes property tax and insurance) 1027 Repairs (ex plumbing, AC) 375 Maintenance (ex yard stuff, light bulbs) 375 HOA 40 Property Management 150 Legal/Professional Fees 0   Total Expenses $1,967.00 Other: After three years, loss of tax-free profit on a sale.  

Fixit chalk it up as a loss the tenant rights in Illinois is something you don't want to mess with as a landlord

For my money, I like the idea of subsidized rent as a guarantee against complete rental loss from a flakey tenant that takes off in the middle of the night.....Good luck!

I received the profit and loss standard sheet for the year 2015 and looking to get an updated one for last year.

There is a lot to address there but I'm going to try and give you as simple an answer as possible.It starts with the cause of loss - why was the hot water tank shooting water everywhere?

It will appraise with nearly all weight given to comps.

However, rent will not be at market initially, which means I'll be losing money for the first few months until we get up to market rents, and then I'll be barely breaking even or taking a slight loss until I get the refi.  

They're equity partners with a split of the profits if it makes money and a split of the losses if it loses money.

It averages about $25 per wash load and is based upon weight.  

If the property isn't occupied at the time of loss, that's a different story.