There is an offer to buy but if I include everything I've spent over the years, mortgage P&I, taxes, insurance, HOA, and recent repairs, I will just break even.

Let the tenant know this in writing and if you need to, also speak with them, but always in writing first in these situations. 

I’m just shocked they can advertise it in writing as a triplex and it’s not.

Otherwise they would have sold, taken the tax free cash and moved on. 

Unfortunately, he got behind on property taxes and was struggling to keep up with maintenance, so the place was in rough shape.

✅= You're probably fineWhat Gets You in Trouble:Can't explain structureHidden arrangementsToo good to be true tax benefitsPartner disputesBottom Line:IRS cares about substance over form.

We have had tenants thing that RentVine is the Property Management company and drop off checks made out to RentVine.    

@Mickael Castillo Are they current on the taxes?

Just sell and pay off that loan or two.

They lowered the “taxable value” by 40-50% and then raised the tax rate about 35-45% lowering everyone’s taxes that year.