How to track repairable items in Inventory module

Does anyone have a method they utilize to track Repairable items that are sent out for repair so they still show in Inventory as out for repair. I know I can create a new "Non-Asset" Subinventory named REPAIR and move the item quantity to that subinventory while the item is out for repair.

1. Would that not make that item have on hand quantity in the REPAIR subinventory so it would be available for the Physical Counts process to see it since it has on hand quantity even though the item is not on site?

2. If this item were a Unit of Property in Property Accounting would the retirement of the item be an issue until the OHQ in the REPAIR subinventory is transferred back to the original Subinventory when the item is returned as Repaired?