@Soh Tanaka Thanks for the reply; my understanding was that the opening balance should be 0, since it's a line item QuickBooks makes up and one that should either be deleted altogether or adjusted through a journal entry allocating the opening balance to an equity/owner's capital account.

My best bet is to probably do as you say and tell him it’s included and then adjust the rent accordingly in the future if he continues to live there multiple years or when another tenant moves in. 

(Check rentometer and neighborhoodscout to see if your area have a high rate of rental property, then ask your PM to adjust your rent accordingly, PM love rent increase because they charge you on %) P/S: if you decide to use Real Protect, please let me know how is their service.

That's a really good level of return, on a risk-adjusted basis given my perceived-risk level of the rental market, and I maybe spent 10 minutes looking these up, not even looking for a good deal. 

Sewer:Minimum quarterly charge- $10.00/quarterSewer fee rate- $6.32/100 cubic feet for first 1000 cubic feetSewer fee rate- $7.12/100 cubic feet for all usage over 1000 cubic feetElectrical:Delivery services:Customer charge- $5.60/monthDistribution charge- $2.97/ kWhTransmission charge- $2.308/ kWhSupply services:Generation charge- $7.30/ kWhPurchase power adjustment- $0.43/kWhHydro Credit- -0.66/kWhAll help is appreciated thank you!

I think that you will be easy access to them for them to let you know what is wrong with the unit and they will want you to do things that normal tenants would do themselves such as replace a light bulb, readjust their cable antena, or adjust the thermostat on the refrigerator. 

Increase the rent by that amount.Additional tips:Add 10 - 15% to each tenant charge because they are more likely to waste utilitiesMake the charges more fair by adjusting for square footage, number of occupants, or amenities.

It is Adjustable rate loan, recently 4.75% till 2023.

In some cases in this situation it's better to correct the depreciation in the year of sale to adjust gain rates or offset income in a higher bracket. 

(Page 2 towards the bottom you can see the adjustment for 20% v 25%)We have been in the era of historically low rates since 2012.