We research local codes and amendments to make sure that the plan review process goes as smoothly as possible.....but wait!

Frankly I think it will get shut down eventually when it gets challenged by the courts, as there are some pretty clear 4th amendment violations.

Do you just deal with those vague items in due diligence with an amended offer?

The problem is as long as it is "on the books" so to speak it can come to life at any point without any additional votes from city council so I would like to see it actually amended and changed.

Some jurisdictions I operate in amended their laws a few years back because the law used to be vague on who was owed surplus funds after a sheriff's sale.

Probably the 2009 amendments changed things back to the way they were supposed to be originally, but we don't have appellate guidance. 

I also spoke to the remainder tenant about the situation, and he agreed to sign the lease amendment.

It should do the trick to get your account established and you can always amend later...

It genuinely makes me sick to my stomach to have to tell a new client that their previous preparer's advice to put all their rental property in an S-Corp was a bad idea, because now we need to amend their personal returns to treat the income as passive because S-Corp income doesn't automagically become nonpassive (honestly, why do those concepts always go together?).

(Amended 1/00)What are your thoughts on this subject?