Identify the section(s) of the DCC&R's or House Rules that you believe apply; and reference the fine schedule, asking if any such fines have been issued to, and paid by, the offending Owner.

Not operating as an LLC or other type of business, taxes will be on 1040 Schedule E. 

Friends and family are usually better sources.Remember with HML it's usually a rehab project they lend on, and you have to front the rehab first, and then reimbursed in a draw schedule. 

And than we get into the "fun" things like how to operate a website that drives millions of traffic weekly, so one can actually FIND a tenant, the various software systems to pre-screen persons, schedule showings, operate lease signings, and on and on and on. 

Change orders are one of the biggest reasons why it is so hard to keep a project on schedule.

@Mike Neubauer @Laura MyersThank you both for the replies - If I may, do you find yourself scheduling the cleaning in anticipation of your guest leaving?

Ask her to schedule a final walk of the unit on or before (the departure date) with you so that you can arrange for any return of security deposit provided the unit is in satisfactory condition and all contents/trash are removed from the premises. 

If they are "looking to purchase" a home, I will typically give some additional flexibility, as closing schedules can be...fluid.

There may also be the possibility of doing what is called a Partial Asset Disposition (PAD) which would allow the owner to expense the value of what was taken out of the property during the renovation from their depreciation schedule.  

I won't be ready to invest in Real Estate until after my education is completed due to the fact that not only will my schedule will be packed, but my financial stand point will not be at its best.