The gain due to depreciation that did not occur is taxed as the ordinary income that was never taxed in the first place, but, the recapture rate is limited to 25%.

Unfortunately, what kills you this time is that the sale has already occurred.  

Sorry, I tried to edit a word on my previous and accidently hit post. ...you can compare the housekeepers daily room list to the in-house and departure list. 

After a couple of years away, I realized what had occurred.

My younger sister who was a minor at the time got into a vehicle accident which totaled both vehicles and sent one of the other two individuals to the hospital for a few hours.  

I have been leaving a bulk-sized box of replacement bulbs in my rented units for the tenants' convenience and replacing fixtures never occurred to me- @Melissa Gittens - are you talking about putting fixtures into new construction or replacing broken fixtures... or do people replace working fixtures for reasons I don't know about?

Even better (lol) your title insurance becomes worthless and DOS violations occur with hasty quitclaim deed transfers to an LLC.  

This is the area we plan to stay in as two of us are Texas Tech alumni, we know the area pretty well, and we feel that Lubbock is a prime opportunity given the low price of housing relative to Texas, the population growth expected to occur, and the volume of students looking to rent.

Keep it simple.Whatever you accepted as "last month's rent" at the time of the original contract will be considered sufficient to cover the last month, whenever that occurs in the future, regardless of the increased unit value.

Knowing who the mineral owners under your property are gives you a much better chance at negotiating a positive outcome should oil and gas development ever occur there.