The community is about 30 years old and has just voted in favor of building THs that have elevators and will be exclusively a retirement community (for ages 55+).

I am a retired Air Force Veteran turned Lean Six Sigma Black Belt facilitator, teacher and performance improvement consultant for an academic medical center.

(The IRS will tell you that you should amend every tax return that reports this income incorrectly, even if you have to go back through your whole life time).Talk to a real estate knowledgeable CPA about your life, your other sources of income, your retirement goals and your plans and see if you can find a better entity structure than what you've got to help minimize your taxes going forward.

Appears she was very happy to get the money back.On another occasion, I was renting to a retired couple who moved to FL.

I am already retired at 68 years old and am trying to maximize my retirement income during later retirement years.

HI BP just wanted to introduce myself Im new to investing looking to buy my first rentals I have been researching a few markets Memphis, Akron, Columbus, Dayton, Toledo ext. just ready to get my feet wet looking for cash flow to eventually supplement my retirement.

Huge difference for you if it's because this is a retirement town where rich people come to live in and raise the median vs. if it's a dead town that all the young people flee as soon as the can. 

He is out of state, retiring and wants to get rid of the property.  

If your future retirement is based on Buy & Hold, it is a risk factor.

So we've been trying to build our rental portfolio so that I can replace my income and retire, but it's slow going.