He checked the leak, and it was a slow leak that occurred from a wax ring issue from the second floor.

But, I would say my first closing occurred about 3-4 months after making the decision to start out as a REI part-time.  

It occurred to me today though that we very much use the accounting method for this and take the book value of each of our real estate holdings rather than the current market value.

Property assessments occur once a year and taxes are based of those assessments.

Don't try to handle this yourself, there is every possibility this person has done this before and knows "the system" better than you do.It occurs to me you might hire a PI to figure out who this guy is and what his background is as well.

We quit what occurred to us as the most stable way to make money and stepped into the unknown.

You'll notice if you look at your recorder's site that lien and mtg releases are usually filed a week or so After a sale occurs.  

a thought occurred to me, i was thinking of starting an llc.

It doesn't automatically occur?

It's a business, if you find some is abusing it financially (not paying rent) or physically (damages),, you push the envelope and write up a lease violation and if necessary evict.. doing regular inspections let's you bill tenant for undue damages when they occur.. and yet still have the deposit left to help when they leave.If you haven't yet,, download copy of the landlord tenant laws for your state..