Your understanding is not correct - all business expenses related to rental income are deductible, including what you listed above (subject to facts and circumstances, such as travel, home office, and meals, which require a discussion with your CPA to understand how these are deductible).You also cannot just flip flop between Schedules E and C.

This is extremely subjective because nobody really knows which way the market is going.

My home state of NH has put a moratorium on the eviction process.At the same time, I have a roommate who appears to have fallen off the wagon, perhaps as a response to him losing his job in a mass layoff.His behavior has been erratic, he has started having frequent "social" calls lasting 5 minutes or less, and he is bringing people into the house who make me uncomfortable and who scare my partner.During this period in which states have placed a moratorium on evictions, is there any possible relief for people who need to get rid of someone who is renting a room in their primary residence?

The reason why it takes 8 months to finish: some delay in paperwork, but mainly we told our contractor that we are not in the rush as we do not want to rent it out til spring time. and due to frequent travel, we did not want people to come and work on the basement when we were away. 

I know this subject has been beaten to death previously, as I've read several threads on this exact subject.

As a result, they did not demonstrate that the foreclosure sales were valid to convey title to the subject properties, and their requests for a declaration of clear title were properly denied."

I did know what a wraparound mortgage was, or subject to, or subordinating notes, or lease option assignments.So I stumbled along.

Be on site at your project frequently.

@Peter Walther If the “seller” fails to disclose the existence of an HOA, any CCRs of record (included as special exceptions in the policy) don’t reference mandatory periodic assessments, there is no recorded HOA lien, and the auction terms state that the buyer takes title subject to any existing dues or assessments, how does the title claim shake out? 

Our bank allows us to appraise “subject to improvements” and we are able to take up-to 80% of that ARV out up front.