This reduces his rental ROI, increases his out of pocket investment, and results in a capital loss if he sells before (hopefully) appreciation takes place. 

When a landlord does not do the same they not only supplement tenants rent out of their own pocket, reducing the value of their property and operating a inefficient business.

Now I have a property with a $650/month mortgage, and $1200/month rent with the potential to challenge the property taxes to reduce the mortgage payment to $550/month.

Assume same property.Do the losses reduce my schedule E/8582 to $0ORDo I report my income of $5000 on my 1040 but than apply the losses to schedule D, which then limits me to $3000?

My plan was to treat AMEX like a HM loan, and once reno is done, try to refinance into a conventional to reduce my debt.

One reduce holding cost for the vendor and so they can make their profit. 

Run the numbers, then reduce offer by deferred maintenance cost.Michael Le Yes, for property that qualifies for Fannie or Freddie I would treat the offer the same as for a SFR.

I'd venture to say most who are looking to do this will prefer the reduced cost structure and increased control you get with a Solo 401k provider offering checkbook control compared to a custodian setting up and holding the 401k assets.

This option allows us to reduce carrying costs and figure out the next step. 

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.