I’d remind the landlord of this….If the landlord misses the 21-day deadline, he forfeits the right to deduct anything.

The guy did not have a chance to win this one, which any of us RE-specialized accountants would have told him.The only value of this case is in reminding investors: REPS is not a casual checkbox election.

You might also remind the seller that they could be on the hook for triple damages since they have the tennant’s money.

Good reminder to me and others that building wealth through real estate is a long game, and very well worth it. 

This is straight from the Chicago Association of REALTORS website:A reminder that the Chicago Residential Lease, and all of CAR’s forms and contracts, are an exclusive member benefit for use only by Chicago Association of REALTORS® members or those who are party to a transaction facilitated by a Chicago Association of REALTORS® member.

Shaun Weekes excellent perspective from the risk management side.This reminds of my time at a national bank in Seattle, 2010.  

It's also a good reminder that you never know how or where that next deal will fall into your lap

Lots of people mentioning syndications, but it reminds of that saying, "if it sounds too good to be true..."

@tyler jahnke thanks for the reminder.

You remind me of myself about 4 years ago, I’m also a licensed agent here in SLO specializing in investment properties whether it be residential or commercial.