As a side note, most state laws don't recognize the payment of "last month's rent" -- it's generally characterized as an additional security deposit that will not be refunded if last month's rent isn't paid. 

You're on the right path by recognizing where you need to put your priority!  

Since the owner has, by his or her own fault and neglect, failed to protect theland against the hostile actions of the adverse possessor, an adverse possessor who has treated the land as his or her own for a significant period of time is recognized as its owner.Title by adverse possession may be acquired against any person or corporation not excepted by statute.

Since all non-recognized gain is going forward in the exchange and only 121 money is coming out there should be no need to recapture any depreciation in this scenario.So you're options would be1.

My husband was worried about financial liability (baby-steps and success cured that), and his time requirement (I have proven that I can take care of it).Good Luck!

Im glad that many others of you have been called a slum lord too, I just say that I don't recognize that terminology. 

We are considering selling it and would appreciate recommendations for agents with a proven track record in that area. 

The tenants are getting a bit restless - with numerous visits from inspection, appraisal, survey, plus however many visits from potential buyers prior to all this.What surprises me is the estoppel letter actually sounds like the lender is injecting itself into the lease by adding these terms to the letter the tenants are required to sign.I will not agree to any modifications of the Lease nor make any prepayments of rent without the prior written consent of LENDER.In the event I receive a notice from you stating that all future rents should be paid to you, I will comply with such notice without setoff as to any claims I make then (or in the future) against the Landlord (or any of its successors).I recognize that you are relying on this Certificate in making a loan to my Landlord (or its Successor).I hereby agree that the Lease be subordinated to any Mortgage from Landlord in favor of LENDER and all additional and or future advances, thereunder, and to any and all extensions, renewals and modifications thereof, and said LENDER shall be and is hereby agreed to be made prior, paramount and superior to any of my right, title, or interest as tenant under the Lease and I hereby agree to subordinate any and all of my rights under the Lease to LENDER.Is this usual and customary? 

My rental applications have a sentence to the effect that they acknowledge and give approval for me to run a background check:"I (applicant) recognize that as a part of your procedure for processing my application, an investigative consumer/credit/criminal report may be prepared whereby information is obtained through personal interviews with others with whom I may be acquainted, which I authorize hereby."

I am struggling with deciding exactly how to start -- I'm trying to get more and more specific so it's easier to recognize an opportunity that is the right fit.