@Cody Caswell depreciation, mortgage interest, insurance and one time expenses(non recurring) are considered add back expenses.

Everything you describe though is just the normal process of how taxes are reassessed when a property is sold.  

would love to connect you f you're still n the process!!

The tenant then decided to vacate the property and leave a mess in the process.

He seemed like a big-time agent who works with a lot of long-term investors.

I’d reach out to your attorney asap to get the process started.

Everything checked out.They claimed that Estate Legal helps people through the probate process—especially those with a living will or those who’ve moved into a nursing home and need to sell their house.

The bottom line is this: Concealment is not asset protection, proper (time consuming and expensive, I know) management, and good, prudent, practices (ditto), WHICH ARE ADHERED TO, and insurance (expensive), are needed for asset protection.

Ananth--if you used an attorney to process the eviction, most attorneys will also pursue the collection of judgements on your behalf, too. 

If you are new, be sure you can raise the funds before proceeding.In my opinion, you are going to have a hard time raising money with a 6% pref and 70% of the profits after that unless you have a lot of newbie investors in your Rolodex.