I hired several persons/contractors to do the painting, landscaping, cleaning and maintainance, but I don't have their SSN or TIN, so I did not send them form 1099MISC, do I still can deduct all those costs from the rental incomes on my tax return this year?

Trusts are effective for the life of the trustor(s) - so these are a sign that someone is estate planning.

Right now I currently work a full time job where I have a whole lot of flexibility but not quite ready for the leap into real estate full time, at the same time I have a side carpet cleaning business that I am using to build up some funds for my wholesailing business, I want to use my wholesailing business to give me some experience in real estate investing, would it be the smartest idea to have my part time carpet cleaning business while trying to start my wholesailing business.

But in this case, I feel obliged to do so in order to warn others before they put down $10,000 of their hard-earned money.I have been a "Preferred Investor Group"(PIG) member in San Antonio for a little bit over a year or so and have purchased 2 houses thru Lifestyles.I choose to post with a psedo identity as it is not pragmatic to criticize a organization after paying a hefty sum in advance (which effectively precludes you from using services from other organizations).I disagree with some of you who may claim that some of the below points are trivial.

Here's what will happen: the bank will clean up the deed, then list it with a repo broker.

If the house in such a mess with junk in all rooms, then, it may have not been cleaned and dirty for a long time.

If they come back all clean I will rent otherwise not.

You could each borrow $50K from your plans and "default" on the loans, effectively creating a distribution.

This I get from 20% down at 5%, which ends up being $12,454 per year.This doesn’t calculate the cleaning fees associated with each stay, which is in the $100 range here on Maui, so keep that in mind.But the fee charged I would assume cover itself depending on the unit.Also, if you did a vacation rental by owner online, most companies are around the 3% of gross, or $400 per year that you would also have to deduct from profits.

If there's broken glass and they didn't clean it up, then you need to get in there and do so to ensure that they can't hurt themselves -- don't wait another day/week/month -- get it done.