Ok, ok. .I just wanted to somehow acknowledge that I appreciate the nice job he did.I see now the danger in a one time rent reduction...and I was concerned about establishing a precedent.Maybe a firm handshake, looking him straight in the eye with a "Thank you" is the best course of action.Thank you, everyone.Arnie

I also acknowledge some of advice may not be congruent with the laws in your state, so I would highly suggest you confirm such before acting. 

Both the seller and the buyer doing the wrap sign and acknowledge the docs.The title changing is what can invoke the DOS.As a buyer you simply plan for an exit if this is invoked.

And I send a written acknowledgment to all of them explaining my understanding of what is happening.

Everyone is buying the low-flow flush toilets now as a landlord to save on water.If the tenant pays water separately metered then you can leave the old ones in that use more.Some issues with the water saver toilets is that tenants hate them.They have to flush multiple times sometimes.I have found the key with toilets is to not buy the most expensive and not buy the least expensive.I do not like the floating ball valve assemblies.They can get stuck and keep the water running versus the newer kits.Also look for a toilet with a larger throat opening that goes into the sewer pipe.This will keep blockages from happening as that is where things get stuck the most before hitting the sewer line.Also pay special attention when you look at a model of a toilet on the display feel INSIDE of the toilet bowl when purchasing.Some manufacturers gloss coat the outside of the toilet but then use matte coating on the inside of the bowl.You want it nice and smooth on the inside of the bowl.This helps waste and paper slide down the bowl and through the throat into the sewer line without sticking.You can also stipulate in the lease that only toilet paper is to be put in the toilet.Anything else found with a blockage the tenant will be responsible for the repair and the damage.You can even have them sign an acknowledgement form on move in.

Many people do not acknowledge mistakes, but you and your husband will grow stronger from them.I agree as well with Eric, not just cause of his name hehe, but it seems like a good solution.

Hopefully I can update myself, come back up here, and acknowledge everyone that added to my success...

Kristine Marie Poe Interesting point, not regarding the basis, but as to does acquiring sub2 create any "responsibility" for the underlying debt, or just the "acknowledgment of it's existence"of the  debt on the part of the buyer....thus leading to any issues of tax liabilities resulting from the forgiveness of a portion thereof. 

and I am the poster child for those.. losing hundreds of thousands and probably over a million in the asset class and first to acknowledge it.. was not fun and I could live to fight another day..

This is established either by language in the contracts and subcontracts or, at least in Texas, there is a form that is signed acknowledging the subcontractor as an independent contractor.As you can see, the term can be confusing.