In order to offset the high profits, you should accelerate expenses for 2016, i.e. pay as many outstanding bills as you can prior to December 31st.

Also this was one of the reasons why I move to another PM company because I felt that my prior one was not looking after my tenants and they were destroying my place.Just as a reference the tenant wanted to buy the property from me but I did not want to sell it so she started to request some repairs which we were attending but then she decided to move and let us know one month in advance......I just feel a bit frustrated especially when my current PM said they would do inspections but they are acting reactively once the tenant leaves and now I have to face all these extra expenses to fix the property again!!

Prior to the LLC I would be more concern with a nice Umbrella Insurance policy.

The only " housing" experience I have is my prior employment at the HVCP aka Section 8, but I'll be changing that within the next couple of months

I did a lot of research the months prior to me getting there and learned the market though. 

In most jurisdictions you will need to record prior to any legal action on title.  

Absolutely listen to your CPA and for that reason, just make sure you give him all the correct data, he's not responsible unless you give him the proper information, like personal property placed in service for you business concerns.So, when the fridge blows after years of service with prior tenants, you sting the current tenant for the cost of a new one?

On the loan I am referring to today, the home had been significantly renovated and there were items the appraiser noted that had to be fixed prior to settlement.

Unfortunately, since I have only owned the properties for less than one year, the rental income is not on any of my prior tax returns, therefore conventional lenders are not viewing this as actual income yet.

We made a verbal agreement that they can pick out colors for those rooms and I would paint prior to the move.