Splitting profits and losses 50/50.

You didn't mention the deductible or what level of Liability coverage was quoted nor if you added on coverage for Loss of Rent, Sewer & Drain backup, or Landlord Personal Property.

Hi All,The situation is this, I have done some digging already and found that the note debtor that I'm in contact with has more assets than they are disclosing when asked to produce profit and loss, w2, tax filing etc.  

You need to see a Profit & Loss statement from his bookkeeper's accounting software or you'll have to build it yourself.

There aren't many offices out there that will decline free food and information!!!

Even if you file and show a large loss, most lenders should be able to use the 75% rule with signed leases.

A quick google search of Seattle ADU covenant will get you the details.Anyway, food for thought.  

You can use losses from depreciation to counteract other other real estate gains across your portfolio.Would your house make 20%+ more money if you rented it room by room on 6-12 month leases?

They are backing out on a legally binding contract, causing damage to your business, and it's reasonable for you to recoup a portion of the loss.

“Pets/animals” include, but is not limited to, both warm- and cold-blooded animals, such as dogs, cats, fish, rabbits, hamsters, rats, birds, snakes, lizards, and insects.Tenant agrees to pay immediately for any damage, loss, or expense caused by such pets/animals.If Landlord grants permission for keeping a pet, Tenant must sign a Pet Agreement addendum for each pet, which may require additional monthly rent and/or additional security deposits.