You would need a new EIN, and this would trigger the filing of a new tax return.

Do I treat this as an abandoned property, or do I need to file an eviction just to be safe?

In Arizona, What documents must I complete if someone is selling me their rights to file a claim as my own, but this claim must be file with the Unclaimed Property Unit in the State of Arizona, is for an Unclaimed Property Excess Proceeds account which the State of Arizona already has it on file as abandoned property.

Speak to all tenants involved and if the problem can not be resolved you have the option of evicting/non renewing the noisy tenants lease.

For when that little thing needs tightening, scraping, filing, whatever.

Maybe he gives me a quick claim deed, that I don't file, we do a wrap, and he buys me out in 1 year?  

I can find out whats important to them and what they need or want... but with a realtor involved there are a lot of unknowns and lost in communication issues.Ok... so my questions are: How do I propose this to a realtor and have it actually work? 

I've been looking for something like in the Beaumont area to get involved with.

I know most (well lets be honest ALL) of the answers involve knowing the law or getting legal advice, but as a landlord you want to make sure you are familiar with the requirements because it will come up.

Maybe that's where you get that it's asinine, because the government is involved and if that is the case, I agree with you on that front. ...and no, that's not why it ends up in foreclosure.