Do you know if it's possible to deduct property-related expenses from a property in the Cayman Islands, similar to a US property?

Depreciation will arguably be your largest tax deduction related to your rental.

Otherwise it will get messy eventually.From a conversation with a banker, my impression is that their bank will either look at 75% of gross rent (when you don't have a 1 or 2 year rental history), or 100% of what you reported on schedule E (which is rent deducted all repairs and things).

If you can find one that cash flows as well or better than your last one, then you'll still earn that extra $1000 per month, but you'll have double the appreciation and loan paydown benefit and perhaps take another step closer to itemized deductions that save you on taxes as well.

When the time comes for them to vacate assess it then and deduct from the security if needed. 

I don't want the yearly cost of the asset protection to turn good investments into bad investments..3) How can I deduct expenses from taxes?

Not likely in 2020.You can deduct them as startup expenses, if less than 5000, in 2021 tax return. 

If one has a failed septic, deduct the cost in your offer.

She is making stuff up so you don’t come back down the line and deduct from her deposit for it. 

So I would explain to them, I eventually had a form that I would start with the seller’s asking price and then I could deduct prices from there.