—Subsection (a) of section 121 is amended—(1) by striking “5-year period” and inserting “8-year period”, and(2) by striking “2 years” and inserting “5 years”.

Not sure if anyone has mentioned it, but I would explore (if you have not) an option hiding in plain sight.For example, if you have been managing the 49 units lock, stock and barrel and doing a great job, what about approaching the owner(s) with some owner finance options if you think they may be amendable in the near future.

I would find a new CPA pronto and have your previous incorrect return amended. 

I was just asking this question more or less to see if anyone had paid for repairs via an amendment that the seller would repay if they decided to back out of the contract or used a repair escrow prior to closing... or had any experience with this situation period.

Sale of Equitable Interests in Real Estate ClarifiedGovernor Abbott Has Signed SB 2212SB 2212 amends Chapter 1101 to codify the clarifying changes to TREC rules regarding sale of certain equitable interests in real property.

We will be landlords in about 10 days if all goes as planned.Question 1: Do you know if we can add an amendment to the rental agreement that is currently in place?

Not sure if this was already mentioned or posted here, but I received an email from TREC this morning clarifying rules for wholesaling in Texas (I meant to name this Texas Wholesalers):"Sale of Equitable Interests in Real Estate Clarified  Governor Abbott Has Signed SB 2212SB 2212 amends Chapter 1101 to codify the clarifying changes to TREC rules regarding sale of certain equitable interests in real property.

The way I could interpret it is because I make <100k AGI/ W2 income, I was allowed to deduct that rental loss (up to 25k), and for whatever reason didn't happen in 2015 and I missed out on a deduction.The other option is I screwed up the 2016 return and need to amend it and pay back the deduction?

You can't get the deduction on a reversed contribution, so don't bother amending if the contribution was reversed.If the withdrawal came after April 18, then it is a distribution.

You do not want to do it on the cheap as once the tenants sign the lease in commercial you are pretty much stuck with unless you give something of value to the tenant to give them to amend the lease etc.