Most claims would be for less than the deductible.

Part E1 might violate what's in most standard leases about an agent of the owner having access to the unit to show to prospective buyers or tenants.

For the most part we deduct all damage tenants do from their deposits.

The deal has to be good, at least by your standards, experienced or not. 

Also without statements how do you go about properly claiming items such as interest deduction / property taxes etc when its time to file taxes?

Hi again @Sara Taslitt, you can find some pretty good standard leases on the internet but Massachusetts is very particular with their laws so I think it is worth it to hire a good attorney to provide a lease for you.

You agree to pay the monthly rent indicated above via deposit to the following checking account at XYZ Credit Union: account # 123; routing # 456  (nearest branch is ADDRESS).Rent is due in advance and in full on or before the 1st day of each month without deduction or set off.

It may not come to that, but since this is your first property I would suggest you go through an attorney anyway, even if it's month to month and it just comes down to sending the notice of termination.When I take over a building I also send or deliver a standard "takeover" or "welcome" letter to introduce myself as property manager and let the tenants know the answers to their two main questions: 1) who do I call/contact when I have a maintenance/repair request, and 2) how/where do I pay rent.Then (if the letters were mailed or delivered without meeting the tenants), I follow it up with an in-person meeting to introduce myself and answer any questions they may have.Usually the main question they have, whether they ask it or not, is whether I plan to raise the rent.

Hi @Garen LafserI'm sure you could find some relatively standard ones on google or the forums here on BP, but usually the attorney's will draft up the PSA after an LOI has been ratified. 

I know that depreciation deductions are spread out over the “useful life” of a property.