So he must fix it, and not by amending.There is a proper procedure for his situation called an automatic change of accounting method.

Yes it's an expensive lesson, yes it's frustrating  and yes it's really unfair, but take the positive from this incident and move forward.This could be a great opportunity to put a new procedure in place for your PM.Brian 

It's might seem so cheap for investors to get rid of lead in other ways but the EPA does not approve of those procedures. 

You also need to have an agent that has worked with REO Brokers (if you are going after REO) before and knows their procedures, terms and administrative assistants very well.

In residential you have what is called RESPA ( real estate settlement procedure act ).

NOTICE: These procedures are the same whether the 45 sq.ft. of mold was black, brown, green, grey, red or yellow.

Always do a background and credit check, guarantor or no guarantor.You have to follow your procedure the same for all tenants.

I also negotiated contracts with vendors, and wrote policies and procedures related to my area of expertise.

Mine was September, one tenant stop paying rent, and I am in the middle of an eviction procedure, she appealed the MDJ judgement. 

If you set up business procedures and don’t deviate you can have the best of both worlds, maybe.