Financial report showing profit/loss and balance sheet for every property for the month and year to date.2.

In this case, your passive rental losses are suspended and carried forward.

AIG just posted their loss for the 4th quarter….$61.7 billion!

Debt-to-income IS the main issue regardless of how it came about; health, job loss, divorce, bad tenants, etc.

Unless your income is under $100K and you only plan on a few properties, you can't take the passive loss.

Job loss?

I manage a condo on the coast where the HOA is made up of very affluent people who think nothing of completely redoing the landscaping every year because they're tired of the old colors, and then assessing everyone for the privilege.Speaking of assesments, how many condo owners here are familiar with loss assesment insurance?

You are limited to 25K deductions as passive losses if not in the business.

I would suggest you include an allowance for vacancy and credit loss.

You can't expect the Contractor to take a loss and you should be reasonable and pay him for the items that were necessary and not covered in the original contract.