He already apologized, I couldn’t amend mine by the time I saw it.  

Option period has now expired without a signed amendment to extend the close.

It was for 2022 purchase filed in 2023 taxes (although we're going to have to file an amendment anyway, so maybe it's not too late??)

Now I want to update or amend the lease to a DOUBLE NET LEASE to reduce my expenses. 

What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

In August 1999, TREC amended Section 535.20 of the TREC rules to provide that for purposes of that section, the term "valuable consideration" includes, but is not limited to: 1) money; 2) gifts of merchandise having a retail value greater than $50; 3) rent bonuses; and 4) discounts.

If so just go back to that attorney and have them amend the % of ownership with PSA.   

Nobody can foreclose.The problem was fixed in the 2024 amendments.

HI @Jyotin GautamShort answer is no in Texas Long answer according to the Texas Real Estate Commission " Under the amended rule, a broker could give an unlicensed person a gift of merchandise having a value of no more than $50 and this would not subject the unlicensed recipient to a charge of unauthorized practice as a broker, nor result in a violation of TREC rules by the broker giving the nominal gift."

As long as you duly amend your Leases, properly manage your Tenants' expectations, and send transparent statements, you'll have no problems (and wonder why you didn't do it earlier!)