He has threatened to take me to court if I do not overnight a deed to him.

Not my favorite area for crime / unemployment / not so landlord friendly courts but still some great deals to be had and as long as you go in eyes open the negatives are balanced out with the increased return.

Also, some state, including PA and MA require the accounts are open local and/or in interested bearing accounts.If you were in MA and didn't follow this law (and all its other requirements), the tenant can sue you for treble damages......so if you accepted $1200 that would be $3600 you would owe the tenant by court order!

I always recommend to my buyers, anytime you go back you are hitting the ball back in their court and they can walk away.

The court house steps has been tough cause Brian's guys are always there and his Praxis Realty listings are everywhere.

Is the problem functional obsolescence?

Here's what my PM does for me:1 - Fills vacancies2 - Handles the advertising3 - Does the interviewing including background checks, credit checks, rental histories, income verification, NSF check research, etc...4 - Does the inspections5 - Does the walkthru before and after6 - Guarantees the first 6 months of a tenant they placed, or they refill the property at their cost7 - Handles all problems, including maintenance...with no markup charges8 - Handles all incoming calls and emails, so the tenant has no idea who we are9 - Contacts, and extends lease at no extra charge to us10 - Knows market, so gets us the highest possible rents11 - 35 years of experience as a full time PM service12 - Will garnish wages if needed13 - Handles entire eviction process (keeping us up to date), from beginning of letters of notice to court....to eviction.  

@Alex ShaughnessyI actually emailed Brandon requesting that they put a feature in where the property taxes would be a function of sale price.

Do I need to show the rental income on my taxes or anything like this or even if the case goes to court etc?

I started a wholesaling group and spend my Saturday mornings with them.I am looking for my next purchase at the court house steps, while I am working on a few more.