Anyways, He ended up writing me a check for $110,000.00 and asked me to come up with the terms that worked for me in the next few days.

If you want to borrow money from your family, figure out the arrangements ahead of time and get it all in writing. 

Write out what you must complete the next day.

Contractor should be licensed (especially for framing, electrical, plumbing, hvac, roof), you should ALWAYS have a contract and bid in writing which details the scope of work, costs, timeline, payment schedule, insurance requirements, disclosures, etc.Why would you return his tools if you have paid him more than the work he has performed?

Anything else I can do besides write It down for an accountant and save receipts.Also, I have an excel sheet of all my expenses that I spent fixing up one of the units.

Get everything in writing signed and initialed.I would not give them a choice.

Clearly write and print exactly what happened and hand that to the police when you file your report.

If your agent can't do it look for an agent who writes with Foremost.  

Hey all,I have been doing some learning about tax implications for owning rental properties and I had a question.Its my understanding that you can carry over net operating losses from year to year basically indefinitely until you sell one day and can write them off of your capital gains.I also understand that if you purchase an asset for your rental, say a refrigerator, you have the choice to either deduct the full amount for that tax year, or depreciate the refrigerator over a certain amount of years and take the deduction divided up between those years.My question is why would it ever be advantageous to depreciate an asset rather than simply deduct it for the current year, even if you are already operating at a loss, if those losses will just carry over indefinitely?

Once you talk to your tax person you should have a lot better idea as to what will work best for you.Some general tax write off ideas:Does your business need equipment that you can purchase and depreciate aggressivelyCan you do Stock loss harvesting (Sell a stock you have at the loss take that as a write off to help offset gains 3,000 cap I believe) Repairs/ upgrades to existing real estate you choose to use as a write off all in the current yearRetirement accounts (you may also be able to contribute on behalf of kids)