I ran a check on one of my prospects for the office space and the service returned as 'Decline' because of a criminal record on file that happened 22 years ago for possession of a control substance.What would you do in this case, for a residential customer I would have simply declined , but for a office space , with small enough rent, should I take a risk of rent it to him?

I'm guessing they will try to strip the house while they still have possession.

It's the last means to get out of a "deal gone bad" with your personal assets safely in your possession.

**Update** I take possession of the property 3/6 at the confirmation hearing.

If they leave their stuff they have 10 days to remove it after the order of possession.

I don't know what the laws are in Texas, but in California the owner can take possession of any deposit held by the property manager at any time.  

It's been a while since I've been to your quaint little town, but have always enjoyed my time there.Has the bank actually taken possession of that house, or is it a mortgage sale?  

Thank you allHello, Jay, It's rather a large topic to cover in a forum post, so I'll just say this ...Holding properties in a business entity structure serves two major purposes:First, it shields your personal possessions from the risks and liabilities of your real estate business.

But when you take possession of the cash it will be taxable but not affect the rest of your 1031. 

I was also ready to file for adverse Possession.