I have had a couple instances with icicles falling on cars and I'm trying to limit my exposure to insurance claims.

If he leaves he can simply quit claim the remaining interest.

Fellow Investors: After six (6) years of renting out properties, I still haven't yet figured out the best way to mitigate those tenants who fail to keep an eye out for the occasional leaky toilet flapper for which some claim the Landlord is responsible for occasional  high water bills.  

Don't take a chance of some title issue or claim popping up and becoming your problem instead of the underwriter's (issuer of owner's policy of title) problem.

Just because you speed and don't get caught, doesn't mean you're not breaking the law.Same goes for all the posters here that aren't following the IRS rules, yet claim they've been getting away with it.We've dealt with many contractors over the last 25+ years that want to be paid cash, or have their checks made out to "cash", refuse to sign W-9's, etc - all to avoid paying taxes to the government. 

Unless the tenant is claiming financial hardship, the response "I'll pay you when I pay you" is pretty antagonistic.  

I use quotes because I was paying for a service that claimed to provide accurate absentee owner addresses.

In my opinion, I thought that continuing to use a schedule E would be the way to go.All the rental property ( three homes ) were quick claimed to my Califonia LLC.

If you are purchasing a Buy and Hold property, with lending, you must first buy the property in you name and then transfer the title(Quit Claim Deed) into an LLC.

I've been at this for almost 20 years.I've never been to a guru's class and I'm not claiming to be all that smart.