Here’s a simplified breakdown:Lease Agreement: Since your buddy signed a 12-month lease in July '24, he is legally protected until the end of the lease term unless the lease has specific clauses allowing early termination under certain conditions.No New Lease Signed: Since no new lease was signed for the new home and no formal agreement was made, the original lease terms for the townhouse still apply.Landlord’s Request: If the landlord wants to break the lease or has changed their mind about the swap, they would typically need a valid reason, like a breach of lease terms, or might need to negotiate an agreement with your buddy (buy out)Legal Advice: Your buddy might consider consulting a local attorney or legal aid service for advice on his specific situation.

I'm not an Attorney but you could set up an LLC (Parent Company) that is owned 50/50 by each of your own respective LLCs (You own 100%).

(At that point, you would review the loan with an attorney who would advise you if it is necessary to board the loan with a servicer licensed in that state.)FINAL THOUGHTSNo matter which scenario you choose, it’s helpful to use a high-quality loan management software program to keep track of your loans.Additionally, even if you are using a servicing company, you owe it to yourself to know what they’re doing and how the income is being applied.

Can someone please send a good and affordable attorney?

I think I can hire a realtor for some of the tasks above (showings to leasing) and an attorney for late payments follow up and evictions.

There are a lot of attorneys/tax professionals that are familiar with Canadians investing in the states, so reach out to them and they'll be able to walk you through the process. 

If you ask a seasoned investor if they say they know it all they are full of it - you are constantly learning and there are always new situations that people go through that others can use as a learning experience One simply needs to go into their real estate attorneys law library and look at volume after volume of law books to understand NO ONE knows it all or even remotely close..

See a RE attorney and use every trick in the book to put off the FC or BK.

Rich Baer, Attorney

I see it as additional paperwork, and a lot of wasted money (unless you were an attorney involved).