Verifying last 2 years of rental history very important!

Meaning you cannot just evict a tenant because their lease has expired.You will have to build sufficient evidence admissible in court and to the satisfaction of a judge to prove good cause to get a warrant of eviction.Many housing providers kept high risk tenants on month to month leases so that if the tenant stopped paying rent, you could simply give them a notice to vacate and recover possession of the rental unit that way.The reason for this methodology was because the HSTPA of 2019 passed in NYS made it extremely onerous and costly for housing providers to evict due to non payment.That method under good cause will be eliminated.So you can still keep tenants month to month but you will need to document the lease violation due to nonpayment rigorously.How many times and how late is “good” enough?

Or you can sell it, split the equity, and go separate ways.I'm not a fan of borrowing from family/friends unless all parties are honest and everything is documented in a written contract.

There's quite a bit of history with this property management company:1) They failed to notify me when the original tenant stopped paying rent in early 2023.

If neither wants to sell you may consider putting everything into a jointly owned LLC with governing documents spelling all of this out. 

This is an area where members can share spreadsheets, forms, documents, pictures, and more.

Does your company have to have 2 years + of history.  

There are so many landlords that never update their lease or other documents.

Verifying last 2 years of rental history very important!

The IRS defines a “quality” cost segregation study as “a study that is both accurate and well documented with regard to” 1) the classification of property into classes, 2) Explanation of rationale for the classification of the property and 3) substantiation of the cost basis of each asset and reconciliation of the total allocated costs to total actual costs.