Please don't hesitate to schedule a time to talk below if you're interested.https://calendly.com/tycoutts

@Gita FaustI do complete my own taxes, however even if I did not you could still make the entries if you knew the depreciation schedule/rules and reviewed your previous tax returns.  

Whether it was making an offer, scheduling a home inspection, or just visiting the property again, taking one step at a time made the whole process feel less overwhelming.

I have a call scheduled with the PM team this week to discuss the situation and lay the groundwork for terminating the contract.

Remember that you can only get one home equity loan per year, you can only have one home equity loan on your home, and you cannot convert your home equity loan into a different type of loan, so choosing the wrong loan can be an expensive mistake that you cannot quickly fix.Time Factors: If you need money quickly, don’t forget the schedule for closing a home equity loan, and make sure you will have time to complete the process, close on the loan, and wait through the cooling off period before you have access to the money.

You can start by reporting it on your Schedule E but you will be subject to taxes.

I've emailed questions as well as scheduled a call. 

Did you get copies of their schedule E tax returns on this property to confirm their gross and net income?

You would need to factor in the cost of the conversion as that would likely create a loss, then we would need to know your depreciation schedule.

I was scheduled to meet tenant and deal with this issue.