Originally posted by @Kyle Root:@Frank Patalano I am closing on my second property right now.

I have heard that sometimes they don’t and that’s what prevents an assumption from working out.

point is even a great tenant can have life events that prevent them from continuing to be able to pay rent.  

I find these people to be ignorant as in the root word "ignore" as they ignore historical examples. 

People gets locked inside factories in China to prevent thefts like they did  here in the US in the 1910s.Please keep in mind IF we all support oligopolies, the download/streaming business can end up like the internet server provider/cable business, where you and I have no real choice anymore.

It sounds like the transaction is close to closing, which means instead of finding a new buyer, they'd likely be open to reasonable concessions.Included full clause below...FORCE MAJEURE: Buyer or Seller shall not be required to exercise or perform any right or obligation under this Contract or be liable to each other for damages so long as performance or non-performance of the right or obligation, or the availability of services, insurance, or required approvals essential to Closing, is disrupted, delayed, aused or prevented by a Force Majeure event.

Now you will have some roots planted for less than $50. 

I mean they have so much control. Get a bunch of people to tour the property together. ARV is very generous. Then understate costs. Seems like a tough situation. 

I was told it was done just for preventative maintenance early on as the area had had some settling issues in the past with other properties.

At the end of the day, if it all works out, there will be no additional income shown on your tax return, you'll only be reporting the transaction for informational purposes and to prevent a notice.