@John Friendas  it's close to the 1% rule which is good, but I would still run the financials on it. 

I just pointed out that at that time, the court suspended the requirement about a week before your post. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

This is just some random Airbnb customer service person, so I wouldn't take this to court, but it seems fairly clear that what is being suggested is possible. 1.

If venue was changed to Texas not sure how fast those courts work..

I want to give them the benefit of the doubt they are just struggling with staffing but now have seen some red flags that lead me to believe there might also be some type of deceit/fraud and possible financial trouble.

That said I like to be able to run year end reports with an estimation of tax liability so I can provide financial statement information to investors/etc.

With nearly 400 units under management, I've only had to show up in court twice in ten years.

Each option has different implications, so choose based on your financial goals.

I would lean towards recommending that you pursue the deal - plus having the property remain in your family may be a net positive for you and your extended family regardless of the ultimate financial return.