This WILL cost you money, but handled correctly it won't hurt you badly.First of all, read up on your local laws and make sure you know your rights in this situation.

There are limited situations in which RRE should be on schedule C, but generally it would be reported on Sch E.

With roughly 40% of the population in rentals, it makes for a win win situation for first time investors. 

Only you know your situation so you have to assess carefully. 

This is a tough one given your family move and situation, it might feel like a lot to take on with this added burden.

I'm put in a difficult situation because I cannot renovate the space until he gives back the key and he hasn't paid rent. 

Sessions in particular is very anti MJ.I can easily see a situation where the feds crack down and civil forfeiture rules allow them to seize all the real estate involved.

@Brock Bowen hi there I’m new to REI, and I’m in the same situation.

Following are some details about properties: Convenient Store with gas station, car wash, office building and bottle redemption Convenient Store with DELI, bottle redemption and one 3 bedroom apartmentI am ready to hold the note on both properties for appropriate buyer.Regards,Sam

The specific situation is that an inherited tenant moved out at the end of their lease.