Also, I would probably not rent to tenants with pets or young children, since the potential damage/cleaning could make it more of a headache than you get paid for.  

The analogy IUse is building a car from scratch and then having a family with children driving it.

Have not been taking the deduction for paying my children and the home office because my current CPA is rather conservative.

We had two very small children, making travel very challenging, and it just wasn't practical for us to travel just to find a place to hang our hats for a year or two while we settled into our new location.

Moving forward, there were 6 children born by my father.One is deceased also.

They will check for everything to ensure safety and habitable. i.e. doors/locks, lights, detectors, windows/screens, appliances (stove with anti-tip plate), hand rails, wiring in the unit and in the basement, lead paint (if children).....etc6.

Do you have children?

I originally dropped any intention of pursuing this claim as they have been unemployed for the past few years (alimony support + children were helping them out), but a few days ago received a letter from their attorney requesting I mail the attorney a check for the remaining security deposit.

I consider  our  family of 7 ( wife 3 young children and 2 golden retrievers) well qualified renters because my wife is a high income earner and we have high credit scores.

Living revocable trust is the most common way to do this, they are easier to setup and maintain than a LLC, and you will have no problem whatsoever from any bank transferring a property to a living revocable trust as it is a very common thing, and this is a must IMHO if you have children or other heirs you'd like to have inherent the property, but won't buy you much for asset protection ...