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.

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?

Also, on the 1099 instructions there are several sentences that mention closing attorneys and/or title companies, but again, no requirement that the person doing the closing be an attorney or a title company.I'm a big believer in the Bill of Rights and the 10th amendment and I suppose that the 10th amendment is one of the reasons that RESPA does not apply to cash transfers of property.

 Remember, they CAN amend the rules and lock out renters...and that DOES happen.