Q2) Since this is our principal business, and we are an incorporated business, do I report 12,000 in income & 11,000 in expenses?

Economic Incentive Zones: https://eig.org/opportunityzonesMore on economic incentive zones: https://taxfoundation.org/opportunity-zones-what-we-know-and-what-we-dont/IRS FAQs on incentive zones: https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questionsIRA data on the 9.8 trillion stored in IRAs: https://www.ici.org/faqs/faq/Individual-Retirement-Accounts-(IRAs)-FAQs/ci.faqs_iras.printSelf Directed IRA: https://www.investopedia.com/terms/s/self-directed-ira.aspHot Market Data: https://www.zillow.com/lawton-ok/home-values/https://www.movoto.com/lawton-ok/market-trends/Market Analysis: https://www.littlebighomes.com/real-estate-lawton.htmlHousing Data: https://www.neighborhoodscout.com/ok/lawton/real-estateDated (2015) market data from HUD: https://www.huduser.gov/portal/publications/pdf/LawtonOK-comp-15.pdfOklahoma Senator that chairs the armed services committee: https://en.wikipedia.org/wiki/Jim_Inhofe

Any lease / legal advise to incorporate?

Like putting in a wheelchair ramp or grab bars in a shower.This is a good article that explains the difference:http://www.disabilityrightsca.org/pubs/548301.pdfPlease note the references to federal laws, even though it's an article that incorporates California law with the federal laws.And if you don't want to believe me, I really don't care.

BiggerPockets should have been incorporating more economists in the podcasts.

Bad debt are items that typically depreciate heavily in actual value you could later resale for but sometimes it doesn't matter.I have a massage chair that cost as much as a car.

If you don’t and crank up the stupid and use tape, you will likely peel paint & paper and then you’re paying for mudding, sanding, primer and paint, you pick.”There are two things in my welcome kit that I tell my staff are not optional: picture hanging kit; felt pads for chair legs.

I might incorporate that so that tenants will understand and it’s a matter of policy.

I partnered / collaborated / engaged / teamed /socialized / discussed / vetted /group thought, etc. in corporate world for 35 years. 

I think that is too high for 100 items (some of it is large like a mattress, dresser, chairs)...I am looking for someone local at this point to trash out and I can provide a dumpster for around $500.Thanks for sharing your experience.