. :-)For me, I have a target GROSS PROFIT of $400 a month on a property where I am ending up with a loan at 100% of the purchase plus rehab.I'm also targeting roughly 45 to 50k in equity capture as well.But here is where one of the previous posters comments comes into play. $400 a month gross profit and the 40k to 50k equity capture are simply part of the target.

Options: (1) Ask a second amendment lawyer for advice about whether you can use "self help" in your jurisdiction. (2) Post a notice to vacate at the entrance of this groundhog's burrow, and then proceed to eviction.(3) Sue him for trespass. (4) Get an injunction. (5) Build a wall and make the groundhog pay for it.Incidentally, does anyone know how many lawyers it takes to remove a woodchuck?

Do you amend the lease?

Eric reviewed my taxes, filed an amendment and I got $5600 back.

In their amendment to the sale agreement, they stated they will repair leachfield and tank to DEC specs and keep June rents. 

Then work the plan and you can amend it as you go.

It was a mistake on the seller to give such crappy terms to execute the lease for the tenant.In these situations typically I make the seller pay for their mistakes by giving a large credit at closing to mitigate the risk factor of terminating in such a short notice.The tenant with signed lease in place is not going to change anything without putting a large carrot in front of them to motivate them to amend the lease.You do not want to to give something to just fix the sellers mistake.

Remember, operating agreements and any agreement can be amended!

I am quite confident however that as long as you sent the proper paperwork in (and can prove it, I typically use email which I can prove was sent to the appropriate individual and their supervisor, OR directly deliver to the office which where they will photocopy and date stamp as received) that you are owed the money and will be paid.The only issue could possibly be that the S-8 authority doesn't recognize that the paperwork was submitted to them (properly/on time/at all) and they claim they weren't aware there was a new owner...hence the authority would have paid the old owner and not feel they would be accountable to yank the money back and direct it to you.Of note- the agency is typically very good about making amends to payments that may be mis-directed while they were processing.Hope this helps, keep us posted! 

The biggest challenge was a last minute survey easement title sprung on us 2 days before the original close date, and figuring out who actually needed to sign the amendment.