(I know....I know...this is quite a wish)You invoice this tenant for his or her current months rent of $500.00.He or She pays you after winning the lottery $6,000 to pay his or her rent in advance for a year.You receive the tenants payment as you normally would.

Some questions though about the sale based on the bid process document that I received from my agentProperty Background: The property is fixer upper and is currently not livable (because kitchen is not functional) so I cannot get a conventional loan so planning to make an all cash offer.

There is a lot of liability as you mentioned, the advice I received was to makes sure the home is completely up to code as far as what your city/county requires for homes with a pool ( be it a gate or pool cover etc.) also, make sure to include a separate clause in the lease.  

Landlords need good tenants and tenants need good landlords.When a tenant is late with rent, we call or text them to let them know we haven't received their rent and check in with them to find out what's going on.

I’ve received different answers from different people so here it is.

As the others here mentioned before, it's critical to check with the local planning commission and city/county governing bodies.  

I would plan to be at the appointment with the pest guy and have them point out any issues they see, take lots of pictures of any potential issues, then send written notice to all identifying issues that are causing a continuing problem along with written notice that inspection of all units will be scheduled each time a continuing complaint is received and units found to be contributing to the problem will be billed for the treatment. 

I'm also extremely skeptical if they aren't interested in me and my performance/experience or the deal, but focused primarily on receiving their upfront fee.

We've received several referrals at this point and quite thankful for the super quick responses!

The partners/members would receive a K-1 for their share of partnership/LLC income.The only way I can see it being reported directly on the schedule E instead of a 1065 is if the property was owned as tenants in common.