I would be concerned about 2.7x's rent, our standard is 3x's and in a low vacancy area I certainly wouldn't stray from that.

How long do apartment complexes wait after rent is due before filing for eviction?

If I had known that no notice was required, I would have filed for eviction that day, Feb 14, and these problems would all be over by now.Instead, I posted the notice, and they paid on the 23rd of February.

You can use the standard rental income form or I believe IRS prefers it to be taken as self-employment income (schedule e / schedule c) which if is a loss, can be deducted off your regular income, however if positive may incur paying more.

If anything in the past was done incorrectly, once they're in there for inspections, you may be obligated to fix old issues that you could have otherwise gotten away with ignoring.NJ DCA Filing - Properties that are 3-units and above require a "green card" from the NJ DCA, which requires an initial registration + inspection as well as an inspection every 5 years.

Specifically, a married couple filing jointly may offset up to $25,000 of passive losses against their “active” income (i.e., wages and salary).

You just received a copy of the letter because you are the Owner.The PM should be filing a claim with his insurance carrier.

Furthermore; you can expense/capitalize items directly related to the rental portion.3) When you sell the building - The personal portion of the residence will qualify for section 121 exclusion(250,000 or 500,000 depending on filing status) and the rental portion will qualify for a like-kind exchange.

You might gather some insights from that on how you can incorporate it to your standard rental. 

Am wondering if I should for the sake of keeping the books straight charge myself rent (I have no plans to file eviction against myself if I don't pay).PS The unit is not held in an LLC and I have no plans to do that.