After that you loose the benefit of using rental tax deductions on your personal income.

You can greatly reduce your handyman call costs if you put together guides on how to tighten bolts to remedy a loose toilet seat, how a tension shower rod works in case it falls down, etc.   

But I'd assert that medical issues are you greatest risk of loosing the wealth you have created.We pay $1600 monthly.

This is looking toward the street outside.Master BathOutdated tubOutdated cabinetry / sink combo.Master Bdr - Fire place is nice but needs remodel, wall unit ac is yuck IMO.Outdated kitchenLots of loose electrical like this, just hanging out randomly in several areas.There's many more pics, but just with these I'm sure you get a good idea of the extent of the scope of work needed to be done to not only repair the home, but to bring it into the 21st century.Your thoughts?

That rule is: NEVER risk what you can"t afford to loose.

note: by installing resilient channel you only loose about 1-2" of your original ceiling height.

He ended up keeping 1 by making it his primary residence and loosing the other two.

That said it would be hard to argue that you are an investors with 20 flips a year, In my opinion you would probably loose the issue in an audit, but since this issue is mirky and you relied on professional tax advice you would not owe any accuracy related or fraud penalties.

Additionally, he said attorneys hate to take cases on this, because they are so likely to loose...  

i don't agree that the landlord has more to loose.