Seller and "bank" have to approve this as an amendment and "bank" spins human hours on the vetting costs of new lender approval.

Don't raise the rent...it is consider retaliatory…you’ll get hammered if it ever goes to court.Your lease should have a clause in it that states that you can evict for the tenant repeatedly failing to pay the rent on time.If you have such a clause, proceed with a Notice to Quit, with the notice period equal to rental payment period (most often monthly which equates to 30 days).Be prepared to defend this in court, i.e. receipts given for late rent (if in cash) or your bank deposit records and copies of the checks.If your lease doesn’t contain this clause, you can add it to the lease with an addendum at the end of the next lease term.If the lease term is month to month, you can send them the addendum 30 days in advance of the change.If they are late repeatedly after that, you can evict for this reason (three times would likely be sufficient).Note: If you take cash for rent, it is always a good idea to give them a receipt.Another possibility, if the tenant pays the rent late every month because the first of the month doesn’t coincide with the date they get their income, you could consider amending the date the rent is due.This is sometimes the case with disabled folks, etc.This issue is another great reason to use a good lease, written and legal for use in Michigan, and that is tested in the courts.Many leases available online are none of those things.

There's also making sure your basis and depreciation are calculated correctly - correcting it down the road can be very expensive.Personally, I'd have a CPA look over your 2021 tax return to see if it can be amended to your benefit and continue on so they can offer your tax strategies as you go.Best of luck to you!

Because of complaints about the relatively few rental properties in the neighborhood, the developer sent homeowners an anti-rental amendment to the neighborhood covenants.

For investment...create LLC, quick claim the property to LLC, create the LLC as you as member and designated agent, amend the article of organization to transfer your father rights to the Trust should he pass away.

I am changing the payment frequency and due dates for a tenant at their request and I am trying to determine if I should use a lease amendment or a new lease.

Can I just produce an amendment and have all of the parties sign the amendment that essentially states the old tenant is moving out and the new tenant is taking her place on the original lease?

This is because they are going to spend significant time prior to the meeting to analyze your return, look for errors (and opportunities to amend) and make sure you don't have any red flags that they can't/don't want to involve themselves in and/or also check for areas of tax law in your situation that they are not familiar with and don't feel competent to address (not every tax pro is an expert in every issue)I don't charge for my initial consultation, but I also am not going to offer to review your return and offer specific strategy. 

If you amend lease, it goes on top of original lease. 

A clause like this keeps the tenant from avoiding late fees and other charges simply by paying the current rent.If unspecified, I would specify it in an amendment to the lease and either ask the tenant's preference or default to whatever is most favorable to the tenant.