Once the smoke clears, any tenant that has failed to pay rent will be subject to the unpaid balance, including late fees and any other applicable penalties.

Here is a quote:"...In the 1980s several Federal Courts of Appeals were asked to decide whether expenses paid or incurred during the preoperating phase of a profit-seeking activity were deductible or had to be capitalized.

There are also ways to retire and take penalty free withdrawals, from IRAS and 401Ks, prior to turning 59.5 years old.

Don't seek mentors too hard, too early or you will have everyone offering you a course or coaching or training.

Please reach out to [ ] and ask them to submit documentation stating that it's ok for us to unfreeze the HELOC for draws to be made or that you are no longer seeking to payoff the HELOC."

I have heard that you can defer for three-four months, but are there any penalties associated with this?

Seeking some suggestions on how to best update this backyard to improve the space and make it more functional.

The good news is my banker called this morning and said they are offering a 2 month deferral on payments with no penalty and no questions asked. 

Or is it prudent to take the rental amount your seeking and add 25% to account for taxes?

If you have a debt obligation you can try going to your lender and seeking a mortgage/debt forbearance.