Since my rental modification did not specify that I would pay 1/2 of the "normal" "Muni" charges (which includes some sewer, so it's also based on 'water use) - I am ending up paying $175 this quarter instead of $50! 

If I go back and amend my tax returns for 2014, 2015, 2016 would that EXPOSE me more to an audit?

@Tyler Brown - If you don't want to do 2 leases (which is what I do) you can do a amendment in June - releasing person C from the lease and adding person DThe reality is people will leave if they want, regardless of if there is a lease.  

(Prior code § 78-72; Amend Coun.

In addition to any other penalties imposed under R.S. 37:1455 and 1458, the commission may require that any person engaged in real estate activity without a license return any fees collected for engaging in real estate activity.Acts 2003, No. 713, §1; Amended by Acts 2006, No. 343, §1Picture you are in front of a judge....He asks, "Did you buy this property?"

@Kevin Wattenbarger another thing you could consider is asking for higher rent payments and possibly add an amendment to the lease that he will pay for repairs (except for structural, plumbing, AC)

Financing both my existing properties and working on getting financing for the complex required what seemed like daily conversation with my banker and realtor about what they need and updates on where we were on the contract/amendments. 

Just to ensure that we're covering all of our bases, I'm curious if anyone has put together a lease amendment for this type of scenario prior to going under contract for the sale. 

Do we need to amend the LLC articles showing the corrected investment amount?

Just to add to what has already been said, I would amend that return to move the rental to the schedule E where it belongs.