Or, can I just have them sign the new contract which would have a rent increase and pet deposit/fee? 

my upfront fees (including down payment, closing, fix up fees) is estimated around $32K.  

When you pay the loan off you pay all the back due fee's if it's a standard sale.

Would your purchase price cover all principal, arrears and legal fees or was it a short sale?

You are bearing the brunt of high taxes and a high association fee. 

However you'd be out the LLC filing fees in the latter situation, so the LLC would appear to be disadvantageous if viewed solely through the lens of income tax compliance.If you're looking to avoid tax I'd suggest you read up on a "like-kind exchange" aka a "1031 exchange". 

. - Lot more inventory to work with (flexibility)- I see many affordable homes 150k-250k range and multi unit homes around 250-400k range- Thinking of buying between or near UNLV university/ main strip so I have faculties, staff, students from the universities as well as employees from the casino/hotel- Property Tax is cheaper (but can be a con in other states).Con & other inputs: - I feel like Las Vegas have short term residence more than long term residence (most of the properties seems to be owners who are not purchasing to live but to use it as vacation home or short/long term rentals.... so many properties can be vacant and potentially allow squatters/long eviction process)- Nevada law require a "responsible" person aka landlord/property management within 60 miles - Distance (I like to buy my properties locally because I can stop by or fix something if needed either by myself or contractors that I work with/familiar with- Property Management fees since long distance - Finding a property management company that is reliable and trustworthy. - Unfamiliarity with the area/surroundings- Lower Rent compared to CA but I know I can't compare apples and Oranges (But I don't want to invest just to break even)------------------------------------------------------------------------ Tax questions ***Some state does not have tax on income(?)

Pay them an entrance fee...under the table?  

The lease would last 5 years and his downside protection would be if the lease was not executed, I would owe him a fee of $75,000.Getting the rents up to market would be a monthly increase of $3,675, which would result in a valuation increase of $550,000 using my banks' CAP rate. 

This is a form that you create yourself that just says your not renewing the lease. 1) 6/5/2018 filed a form called "unlawful detainer" ($220 filing fee + $50 misc fees, $270 total) with Court.