We're a lot better at it now, but it's come at the cost of really toughening up, asking for first, last and a full deposit with no exceptions, not allowing pets anymore even though we love dogs ourselves, etc, etc.

ACV polices will list 8 or so types of loss that will be covered by the policy and if it’s not named...it’s NOT covered.RCV polices are an “all risk” type of policy so it will only list the exceptions that are not covered - as long as the loss isn’t listed as an exception than it will be covered.It’s complicated and is why some people hate the concept of insurance because they end up learning this stuff as part of filing their first claim.

There may be some exceptions for government funds for low level income.  

I was exceptionally impressed with our Illinois attorney.The forms come with a money back guarantee, so you can purchase with confidence.

Zero anything except trash, fridge, oven and dishwasher.I did end up replacing both the oven and the dishwasher, adding a washer/dryer, refinishing the deck, replacing the deck railings and redoing the deck stairs.Almost everything furniture wise was used from Craigslist, used furniture stores and family updating.

So far I've only received positive feedback except for one member who messaged me privately.  

We have selected a party (lives within a few miles of our lake) who runs (2) other lake home properties (with exceptional reviews) to manage our lake home.

Theres always an exception, but generally the seller wants too much money for their property.

You're still paying the same amount for the same labor, except the NOI is significantly different due to their market rents.Personally I think flat rates should always be used.

As far as taxation goes, everything is generally just considered active income except for when the loan is resold, especially after holding for 1 year.