The toilet is leaking for six months (not major work), but they did not report (maybe didn’t want visitors).

If you purchased with all cash and your property only has minor repairs that would not be an issue in the appraisal report you can get a Delayed Financing mortgage through Fannie Mae and technically cash out the day after closing instead of waiting six months .

I enjoy reviewing these and other reports to stay up to date on trends and opportunities in different markets nationwide. 

The owner has to take depreciation later on, the amounts to be reported won't be paid by the owner but by the tenant, you're claiming deductions you didn't pay for.

I'm no expert but I would guess not much.Every disclosure I ever filled out said, " to the best of your knowledge" and every inspectors report I ever saw said at the bottom, something to the effect that if they miss something you can not hold them liable.

I am nearly over the finish line and this semester I am working on my final capstone, a 50 page report and presentation that will get me to graduation.

You of course want your own inspection, and an insurance co. will require a wind mitigation report, and if more than 30 years old, a 4 point inspection (get them done at the same time, by the home inspector).

Quick MLS check revealed a 2br/1ba 75k property in the market renting for $1250 or in other words 1.67%Good Luck!

If nothing else, you should be entitled to a copy of the credit report with written explanation as to why you were rejected.good luck

All reporting to FinCen will be done using IRS Form 8300.