Clear terms and timely action helped secure the property and begin the planned improvements.

I'll try some of the methods you describe in your comments this year and then also analyze them more rigorously and see where they stand.

Acting quickly helped secure the property before other buyers could step in.

There's a program out there that talks about teaching this method or system to new investors and the cost is UP THERE(almost &10k!!). 

For shared expenses like mortgage interest, property taxes, insurance, utilities, and repairs, you would allocate based on a reasonable method such as square footage or number of rooms, and only deduct the rental portion.

Negotiating for success meant securing terms that allowed us to thrive and achieve our investment goals.”Negotiation is like a fine wine, it gets better with time.

If that’s not possible, a structured transition is needed where the outgoing PM services all existing reservations through completion, and the new PM begins managing new bookings only.Best practice during any PM change:Establish a firm transition date in writingDocument all upcoming reservationsClarify who is responsible for in-house guests and future bookingsTransfer logins, payout methods, and communication accessAvoid any guest-facing disruptionThe priority should always be continuity and protecting listing performance.

Use a formal promissory note and a mortgage or deed of trust to secure the loan.

We’ve lost several months of rent, need to cover repairs to get the property back in proper condition, and never received the previous tenant’s security deposit.

You have 3 options to deduct the full cost of appliances:- repairs under de minimis exception, as mentioned by Christopher- 100% bonus depreciation- Section 179Each method results in a 100% deduction, but they still have differences. 100% bonus is often the best method.