It's your books to report how you want, and to me it's not not illegal at all to do what you are doing.

If you must retain some cash, consult a tax advisor to understand the liability and optimize reporting.

Florida’s a great market, so if you need tips or guidance, let me know—I’m happy to send you an example of the report I created and the article I wrote about this.  

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

These platforms are affordable and offer comprehensive reports (credit, background, eviction history) without you having to handle sensitive information directly.Verify Employment and Landlord History: Your plan to request pay stubs and a landlord reference is solid.

The property manager may have some interest in your success (if you get a good one) simply because they are making the most consistently - 1st months rent plus 10%/month.

However, we take responsibility and worked diligently on finding more deals.In regard to Stefan's comment, I've noticed we deleted 30 negative items from your credit report in total (15 from Experian and 15 from Trans Union) while you were in our credit repair program (I just took a look at your file).

If you only have one LLC and don’t need entity tracking, you could get a lower subscription and categorize your properties as ‘customers’, then units and tenants would be sub-customers.Simple Start would allow you to invoice your tenants (if desired through QBO) and produce basic reports. 

That comment also seemed to imply that you don't report the rental on Schedule E if you have an LLC, but that's not correct, with a single member LLC it still goes on Schedule E."

But maybe your tenant reaching out and mentioning that they're going to be forced to file a police report for fraud could generate some traction...obviously the real objective here is to just get the seller to call you back...