Expenses is money you spend in one year and that the IRS lets you deduct in that year.

A large portion of the work you will be doing when she does leave will fall under the normal wear and tear category, so you probably wouldn't be deducting it from the SD anyway.You got an $8k discount on the house.

Money was deducted from purchase cost.

I should have also gotten a quote from another contractor and deducted that amount from the final invoice because that is what I will have to pay.Overall, my new contractor is going to execute more work than the first contractor at a price approximately 20% less than the first contractor.

When I wholesale a property I typically deduct 9% in order to show net profits.

I am interested in having a concise list of deductions for landlords.

If you sell for, say, $125K, you would have $36,363 of gain subject to the tax on unrecaptured depreciation and then another $25K subject to capital gains.Even though you can't deduct those passive losses against ordinary income, they do carry forward.

Just don't expect it to go over very well with the long time tenant.I don't see you being able to take a deduction for anything out of the security deposit that was damaged prior to you buying the property unless you have record of the move-in condition.

If the money I pay for tax lien is tax deductible.

Try this article: http://www.landlordology.com/repairs-vs-improvements-tax-deductionsGood explanation of repair (expense) vs. improvement (capital) deductions.