Disregard the agent’s proforma market rate.

@Dave Foster Can't you sell a property that's in your personal name and then buy a replacement property as a 1031 in the name of a single member LLC that you own that is treated as a disregarded entity for federal tax purposes?

@April White Please don't take this the wrong way, but the fact you have an LLC in Texas yet you started out by saying you're incorporated and need to file a Form 1120 shows me you need a CPA.1) LLCs are not corporations, so you aren't incorporated.2) LLCs, by default either (i) file a partnership return (Form 1065 NOT Form 1120), if they have 2 or more partners, or (ii) don't even file a separate return if they have only 1 owners, as they are what's called a disregarded entity that files it's information on the personal tax return of the sole owner. 

But if the LLC is a disregarded entity (sometimes the common but not totally accurate phrase used is pass through) then it does not file it's own tax return and all should be reported on your Schedule E. 

Disregarded entities not owned by a C Corp are as well and they're not considered passthrough entities.

There are many steps between written notice and eviction.Your Mary Poppins “heart to hearts” are idiotic when a tenant, especially inherited, shows a disregard for the rules.

@Michael DembyIf you quit claim your primary residence into a single-member LLC (SMLLC) that's taxed as a "disregarded entity" by default, nothing has changed for income tax purposes. 

I won't tolerate destruction of building property and I won't tolerate blatant disregard for the standards I set in the lease. 

If you are the sole member and it elects to file as a sole proprietor so it doesn't file it's own tax return then that LLC would be a disregarded entity. 

Partner's in a partnership or members in an LLC are not to receive W-2's.If the entity is formed as an S-corp, you will report income in two methods, You will receive a W-2 as an employee and you will receive a K-1 for your share of the S-corp's income earned throughout the year.If the entity is a single-member LLC(disregarded), you will report the income earned on your individual tax return - form schedule C.Regardless of the payment method/entity type; lenders like to see consistency and may want 2 years of consistent income in one industry.