(Think about telling someone you would help them move if they paid you a couple hundred.

I always transfer the last months rent to the new lease, they technically are not in their last month, unless they are moving out. 

@Tim Delaney my thoughts were like you're saying to move away from a problem property.

The farther you get away from your hand, the more the whip moves.

It's much easier to get it going when you purchase the property than to move it later.

All you need is a competent tax accountant.

The alternative is moving to somewhere cheaper or find a higher paying job.

Frankly and I was there Armando's students killed it.. we were early into Vegas in 2011 to 2013 buying homes basically all sub 120k I know if funded tons of them now average price in Vegas is closer to 300k for the same props.. when the foreclosures ran out ( thats what I was funding the flipper who was providing the inventory to Armando) they moved to Orlando and same thing we provided capital to buy fix and then sell to Students plus non recourse funding for IRA buyers.. same thing Students bought these for 70 to 120k each everyone of them has doubled or tripled.. 

I think newbies should get competent advice.  

There's a couple of things that make this more attractive than the other option sugggested of forming a new LLC to own the property.First is the expense and reporting involved in another LLC entity.Second though and more important in my book is that by having your LLC own a TIC interest and having your partners LLC own a TIC interest you keep the utmost flexibility available to you as you move forward with that property to eventual sale and possible 1031 exchange.