You give a pm almost 400 a month to collect rent post notices and mow the grass on this building ?

I am thankful to Bigger Pockets for creating this resource and I am looking forward to learning from all of the great minds in this community!

Concerned about my recourse / ability to collect rent consistent with what the current owner states it is.

Is there some resource that discusses the scenarios under which the transfer does or does not create a capital gain? 

Last year I got murdered on taxes because I was just collecting rent and not paying attention to the accounting side of real estate. 

Any help or direction towards more resources would be great, thanks!

We are still trying to collect half the principal back from him.

It's been such a great resource for me. 

That's also what I did............Plenty of resources here on BP about how to buy out of state so check those out.From a motivational stand point....you can always say ....My market doesn't have this......My Area doesn't have this.....just remember, "Whether you think you can, or you think you can't, you're right."

The right realtor will be a resource for you, but under no circumstances should you be dependent on them.