You could get into trouble if you dispose of the possessions without going through your local legal procedures.I hope you have learned from this experience because you made a huge error by not filing for eviction when they first stopped paying rent.

From what I was told, this error/issue wil cost us between $25-35k just for this tax. 

Or is it user (tenant) error?

My Trust document was full of errors and contained other peoples information.

Was your biggest issue the market or the error in estimating ARV?

Perhaps this is the rookie in me, but 6-12 month hold times seems too slow to me.

Hi everyone! New member here from the DMV. I grew up in the area (Maryland) and attended school in state before moving up to NYC and then SF for work in professional services (consulting, strategy) and technology. Sad...

If he forgets to include it on his taxes, he'll be asked by the IRS why he omitted the income, and I received these notices when 1099's issued to me are in error.

Entry errors can happen just as easily regardless of the number.

And for the record, if you’re listening to someone who’s telling you to avoid houses that have foundation issues, you’re learning from a rookie!