You purchased your property in 2017 with an expected rent amount of $1,549 on the original property evaluation. 

Keep detailed records of payment dates and amounts and consult a tax professional to ensure this strategy aligns with your overall tax planning. 

@Tomas FalconWelcome to the community and be ready for a huge amount of information at your finger tips.

Turns out, the only thing historic about it was the amount of problems I inherited.

This can lower your tax bracket potentially and you earn interest on the income you would have normally paid Uncle Sam.10) At the close of escrow, move funds outside of the taxable estate to avoid the 40% estate tax on amounts over $11M single or $22M married couple.

If electing S Corp status, pay yourself a reasonable salary to avoid IRS scrutiny.To be honest with you, you don't need any kind of Corp for tax savings unless you reach a certain amount of net income.

I also agree that RE appreciation is unlikely to match the last dozen years, but you never know.Where I am unsure we agree is that paying $450k to improve the cash flow ~$3k (your numbers but I expect my delta wold be similar meaning both my cash flow estimates would be worse than yours but both would be worse by the same amount not affecting the difference) makes sense especially if the cost of having the extra $450k is only 6% rate which is historically simple to beat via numerous investment options and hopefully no one is investing in RE for an expected of 6%.  

Either way...... gotta love The Heights......people will pay that amount to rent .,,,,,, instead of building wealth

I just work the amount into my pricing.  

If it's just a two-family, or really with any amount of units, I would send the same notice to all parties so it's clear that it is addressed to everyone (even though it's because of one tenant).