And the interest is deductible. 

He can be the sole owner of the LLC but if you are the mortgage holder you would not be able to deduct this through the LLC. 

Most likely it has to do with either how much you have earned or how many deductions you are taking.

Received an email stating I need to send a tenant that moved out 20 or so days ago their security deposit and an itemized list of any deductions.

Renter wants to plant flowers/garden asking to deduct rent for it.

@Amy MartinDepending on what your income level is and what her income level is.It may be beneficial for you to hire her - you would be entitled to a deduction and she would report the income.

Some more to add would be Property Tax while you own it Insuarance- you will need to have with any loan .HOA fees if applicable.Utilities if applicable.Rehab Budgets almost always go over and take longer.Sales usually take longer and go for less than the estimated ARV.And if your using a broker take deduct their fees and the selling closing fees from your estimated sales price.Just leave yourself a nice margin at every level , the worst case you’ll make more than you over budgeted , or walked away from a deal that likely wasn’t that good to start.Best of luck.

I paid 27k for it at the time.. might have been low don't know.. but then the city grew to us and we got annexed in and made it by ONE lot.. sold in Jan for 1,950,000  sometimes you simply get lucky or you use deductive reasoning to know where the city is going to go.. 

You have to account for each and every penny received, paid, and sometimes just deducted which could either be reflected on Profit Loss or Balance Sheet depending if it is a rehab or rental.

Get a good CPA, take his (or her) advice, and keep good records so you can maximize deductions.