Levi T.

Originally posted by @Levi Koskan:Would love some thoughts and help with my situation, My wife and I make decent W2 income as our main source of money but we have two properties. 1 that is a rental,  I have a property management company handling it, and then our 2nd has an ADU to which we actively manage an AirBnB that has done quite well. 

If you did this it's likely your tax would be based on a FMV anyway, but if by some chance they did not you've now defrauded the tax base of it's rightful opportunity to levy tax for the City/County support of your property.

@Levi T.

A sole proprietor is allowed to use a social security number as its business taxpayer identification number unless it (1) paid wages to one or more employees or (2) is required to file a pension or excise tax return.

Check on your state regarding  removal of names from  title of a proeprty as  some states might  charge  an excise tax  when  adding or removing a  person from title - good luck

Originally posted by Levi T.

If the latter, you can still get a court judgment against him and file for wage garnishment and bank levy without sending it to collections.  

That is, they send the legally required number of collection attempt letters — often by certified mail — to the former tenant and then seek a judgment, followed by a levy of the former tenant's bank account to collect missed rents and legal fees.

It is worth noting that the graph that @Levi T. shows is over 50+ years.