That's asking for all kinds of friction.Here's a short list on the lost value for honoring the "sweetheart" lease:Security depositPet rent and/or pet feeLoss of rents due to under marketHolding costs/vacancy/marketing when the tenant leaves "whenever he wants"Other operational headaches / PITA "tax"Your attorney should have suggested estoppel agreements as well as language in the contract that states no changes to or new leases can be signed by seller henceforth.

Instead I would suggest you continue to learn as much as possible.

So it’s a good idea to create a process to do it w/o being present.What i suggest:1) Schedule a time to meet 2) Apologize that you won’t make it shortly before3) Have them send you a photo of their drivers license 4) Give then lock box code and have them call you when they leave the property This helps since they think you’re going to be there.

If so, any suggestions as to which way to accomplish this and avoid or at least minimize the tax? 

@Mike Dorneman I also suggest that you ask your 1031 exchange accommodator, as they do 1031s all the time.

I would recommend looking further into these things if you haven’t just to be sure you are positioned appropriately.As far as incentives go, we haven’t seen the need to offer any in over 18 months but I like @Mary Mitchell’s suggestion of applying any discount to the second month’s rent.

I had offered a suggestion on a 'Visa' gift card due to its flexibility in spending locations, but I still feel like there is no 'character and personality' in that gift.What are some your suggestions or gifts of thanks that you have given or done in the past with some of your clients and customers?

@Ryan Dosenberry My inclination is to suggest you go ahead and get your license. 

The good news for you is that Indiana is a Reciprocal state with Pennsylvania ( use form WH-47), which means you do not have to file separate tax returns for each state. you may have to file for the income made in that state to them but you do not have to report income from PA to them. it does get complicated - Nj and PA are reciprocal states and my properties are in PA and my CPA is here in NJ. i suggest you hire a CPA, tell your wife it is not that you do not trust her, you just want to relieve her burden of doing the now complicated taxes.

Hi All,Please suggest me some mobile home renovators in Toledo, OHIO.Thanks,Ram