Once the new tenant takes responsibility, release the original tenant from their obligations.

I’m originally from PA.

Poor wording in the original post.I emailed the CPA and said that the advise does not seem to be correct and received the following response:"Forming an LLC alone doesn't automatically turn passive losses into active losses.

Originally posted by @Navroze Phiroz:A rather unconventional approach.... but I’m looking for a multi-unit (preferably 3/4 units but would consider up to 6 units) in Burlington Ontario or Oakville Ontario.

I may be wrong in my understanding of the real estate code of ethics outlined in the Arizona state statutes, and everything else I've read regarding real estate transactions, but as far as I understand it the original agreement to sell is null and void due to the nondiscolure committed by the real estate agent/broker first in the fact that he signed the agreement to sell as the buyer, misrepresentating himself as the agent and stating he had a buyer/investor and Secondly because the agent involved should not sign in representation of the buyer but may only accompany the buyer to the signing (it was done through docusign, I signed first and then was notified that the buyer had signed and downloaded a copy, I didn't look at who the buyer was until just last night).

@Jonathan Greene infers from your use of the term "lease" that this tenant started off on with a lease for a period of time such as 1 year and then when the lease ended no new lease with signed and the tenancy continued as month-to-month under the original lease terms.

Here’s a refined version of your message that maintains your original questions and concerns while improving clarity and flow:Hello,Since January, I haven't received the full rental payment from the property management company.

Purchase price: $390,000 Cash invested: $120,000 I purchased a four-plex for $390,000 where each unit was originally rented at $400 per month on a month-to-month basis.

I originally became a Realtor to aid in getting investment properties for myself, and now I also do so for others.

Curious to hear from original poster how many bees was this (approximately)