That is not an insignificant amount, Ed is missing out on almost a third of his income because he RETAINED a tenant.

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

He sold the company about 7 years ago but retained his clients and has always maintained office hours throughout the year in case his clients needed him as he had the highest certifications and some of the areas biggest clients.

Only when the others did not redeem after 30 days passed, did my attorney ask for a retainer to start the foreclosure suits.

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

@Phil Glantz  I retained an attorney to be my broker of record, so he has reviewed all of our contracts and we use those instead of MAR.So many people think it's impossible to do business as a non-NAR member. 

Sounds like you've done the right thing setting the wheels in motion to evict.My advice:  (1.) stop communicating with the third party (spouse), (2.) consult/retain an attorney experienced in landlord-tenant matters, (3.) going forward, act sooner. 

Then in a few years you can move out and retain it as just a rental property :)