No more land lord responsibilities.Cons: Pay: Massive tax bill.

This could lead to a huge tax bill and penalties.Think carefully before you do this.

@Bill B..

It was given to you by the renter to pay the bills on this property. 

The potential risks like unpaid bills and damaged property aren't worth the hassle.

Proposed property were paying 60 grand to unit utilities are paid by landlord  I’m hoping in a year this will net me $6000 a monthWas using voice to text sorry if there’s any grammatical errors. 

@Christopher Smith - I'm expecting a capital gains tax bill of ~$100k.

Water/sewer/trash bills are killer in the City and they are ruthless about holding housing providers responsible while letting tenants repeatedly off the hook. 

Almost every syndication and fund out there has been built on low-interest rates and their strategies don't allow for much margin of error.

Can you go ahead and change that (think address of record for LLCs or bills for other properties).Make sure any HOA and the local government allows for your home as an MTR.1 last point to add to Jamie's first point: if you can, take a video tour of the home and what you're leaving behind.