Property grosses 120K (100K night revenue + 20K Cleaning) Yearly Maintenance cost taken care by PM around 6K annualPM deducts 20K annualOur payout is 74K annual ( Receives 1099 for the same)Can we still deduct 20K cleaning , 6K maintenance expense and 20K PM Fees as our tax deductions?

The current tenant is an elderly lady and has been great the few months she’s been in the property (quiet, cleanly, pays on time) so I don’t have an issue with her staying I’m just not entirely sure of what section 8 entails.Am I legally required to accept section 8 assistance?

It is better to buy a new one than spend a ton of time cleaning and fixing it.

I'd also love to see the agent have a solid reputation and be a valuable resource to go to for anything I will need - especially a solid list of trade vendors I can call if something needs repair or cleaning. :)If the agent can also show me their own track record and/or some successful client stories/deals that would lend itself to provide me with a higher confidence in where I was investing and the agent I was using.

I’d feel much more obligated to my tenant, who you should be promising a quiet, clean, and comfortable place to live.

But our friend the Electrician is not likely to reseal the plaster and make the repair invisible nor is he likely to repaint the the wall, and he may not even clean up the debris from the plaster being opened up.

You wouldn’t have to repair or clean anything, I will buy “AS IS”.

We helped remove the old tenants, cleaned out the house and spent $20,000 on floor, paint, repairs and upgrades.

My initial intention was to clean up units and raise rents as tenants move out, but I haven't had much unit turn over. 

A few months later (2 days ago) we delivered a 3 day notice to adhere to lease agreement, stating he needed to clean up the communal yard area and store his ladders and junk elsewhere.