Above $150k, this allowance is phased out and the net rental real estate loss is suspended and carried forward to your next tax year.If you or a spouse are a real estate professional, there may be opportunity to treat the rental real estate losses as non-passive.Regardless, in general rental real estate losses will not be able to offset your self-employment income for purposes of the self-employment tax, and that will be the biggest tax for a completely self-employed individual.If you have the scale to absorb the cost, a good tax advisor is something you might consider adding to your team.

It is a fun business if you treat it like a business and have set yourself up so you have a mindset that tells you that you will handle all problems with business logic and never allow a tenant to get you upset or emotional.

:You are treating an auction, like it is a personalized buying experience.  

Treat it like a business. find you a cpa who understands what you are doing and get computerized it will help you and your cpa.

Treat your tenants respectfully, but don’t be afraid to communicate and enforce the rules as outlined by your lease agreement.

.• Be generous with free stuff — wine, mints on the pillows, chocolates, fruit baskets, snacks.

Any other "Necessities" or "Treat yourself" items?  

For whatever reason, they don't have the courtesy to let you know, so just treat it like a business. 

Btw, in my lease he would have had to given official written notice that he was terminating the lease and once that notice is given it cannot be taken back without my permission, so if he stays put then I would be able to treat him as a hold over tenant, in which case per state law rent doubles automatically.Be firm, be fair, and get paid! 

Do they treat people with respect?).