They don't haul you off to court, or immediately impose a fine. 

You aren't required to but in the case, they decide they aren't leaving stating a hardship due to the time of year, weather, etc, it would be cheaper and faster to provide assistance to get them out instead of going through a court process.

I need to formally evict them with the attorney but plan to sue for all of the damage they caused in small claims court on my own.

@Michael MorelliNew York State tax laws are more complex than South Carolina tax laws.Your SC return will be a non-resident return and include for the most part only your rental property from SC.Short-term rentals have a lot of similarities from their long-term counterparts...but also have many differences for tax purposes.best of luck to you in your search

I don't think the courts would agree with this if the person with any equity complains.Yes you can transfer to another beneficiary without anything being recorded as only the trustee is public record.item 5 would require a foreclosure. 

Some complex K-1 packages will include a federal K-1 plus 10 state K-1's but in reality, there is only sourced income in maybe 5 states.

I am currently looking into purchasing an apartment complex.

I invested $25k into a 312 unit apartment complex as a limited partner last year, and I would never claim that I own 312 units.

Most likely you are going to have to get together with the other partners and go to court to force the sale of the property. 

That's true for typical recourse debt.But for the types of debt associated with larger deals, it's a bit more complex.