Perhaps I'm wrong, and I'm not insisting but from what my accountant said it's a net wash as I'm filing personal.

Also your local building department may have homeowner nights where you can go and ask any questions you have regarding the process of filing, permits, construction process, etc. for free.As Zackary also mentioned, YOUTUBE is an amazing resource for learning the ins and outs of basically any home renovation project.

There are no penalties as long as you do this before the tax filing deadline.

I would recommend finding a CPA so you can set yourself up to maximize deductions when you file next year.

Make sure you say in the letter that rent is late, and if the tenant does not pay within 5 days you may file an Unlawful Detainer.

When they move out there is no refund and if there is damage we file a claim on the bond.

I like versatility, properties that I can move if I need to, fix and flip, subdivide, rent long term, or rent short term all year long.

I have not filed 2018 taxes yet !!  

That's why we, and I'll bet you as well, will never wire funds anywhere at any time without a contract for purchase in our files to serve as an identification. 

@Eamonn McElroy So, assuming her private lender is an individual, wouldn’t you agree that the instructions for the 1099-INT form states that “You are not required to file Form 1099-INT for interest on an obligation issued by an individual”?