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Thanks for the advice. If I was to rent a property out at lets say 10% under market rent on an ongoing basis, how do I account for that at tax return time? What proof do I provide?

Sorry to jump on this thread but I have a similar kind of question... I am looking at purchasing an IP that requires some cosmetic renovations, and I may choose to rent this unit to a friend. I would look to reduce the rent during renovation, and also may decide to self manage - if renting to...