@Moncy Samuel - there should be some legal lingo in your lease agreement that covers this.

He's on a month to month lease now.

At the very least - you should be able to deduct items related to the driving truck(do you own or lease it?)

I have been a landlord by default for two years on a lease option and we have a mortgage on our current home but that is the extent of my experience.

If you want the returns, inflation hedging benefits and tax benefits then look into investing passively into syndications, REITs, or NNN leases.

Empathize with Bill and the seller's position and suggest that if you can't get back the funds you at least want to help the seller's case in court, work out some sort of deal, talk about a master lease option, basically anything that does not involve the idea of litigation. 

Typically, they would either:plan to manage it themselves (i.e. new home but same city) and create a lease, post a rental sign, post it online, etc., orcontact a property manager (or property management company) to take it overOnly owners that want to get burnt will call their buy/sell agent.

I would also like to include that we signed up for 1 year lease agreement and it ended in October 2017, we stayed in the house until February but didn't signed a new contract so basically it was a month to month lease situation.

Long story short, I had a tenant lined up, and we were going to do the lease signing this Saturday, and he calls me Wednesday to notify me he was let go from his employer.

My lease puts the "Milwaukee Water Works Bill" as the tenant's responsibility.