There has got to be a better way then just quickbooks and filing. 

If I was the landlord in this scenario, I would handle it similar to how your landlord did....file for eviction and sue you for past due rent.Granted the son doesn’t sound like a great guy, but he also lives in a completely separate single family house from you.

To summarize, file per your records and plan to include an explanation as to why it is incorrect, as the issuer sent an incorrect 1099 to the IRS too.https://www.fool.com/retirement/2017/02/22/what-happens-if-i-get-an-incorrect-1099.aspx

Originally posted by @Bob Lett:@John Underwood interesting viewpoint as there are Ebs and flows in the market and that’s why capx and having reserves is important for situations like this.If it were to happen I would have a discussion with the tenant how they would lose their government assistance if they don't pay their portion of the rent.Also there are people on the section 8 waiting list so I would next file an eviction.

What should the fee be for a simple single property partnership in Indy?

Hi @Timothy Swenton, on Friday I filed the LLC formation paperwork after reviewing the form with my attorney.

Here's a list of what we ask for in our LOIs and contracts:Operating financial statements for the property, including income statements, expense statements, capital expenditures, for the last two years of operation and year-to-date financial statements for 2020.Prior two (2) years tax returns and addendums for the Property.Current tenant leases, tenant correspondence, tenant credit information, tenant security deposit register, and delinquency report.Onsite staff payroll records to include salary, bonuses, payroll taxes, benefits, etc.Monthly owner statements and rent rolls for the past 12 months.Contracts, service agreements, and files pertaining to the property.List of maintenance all maintenance requests (complete and incomplete) for the last two years of operations.Real estate tax billings and assessments and other correspondence pertaining to real estate tax calculations at the property.Copy of Insurance Policy and claims documentation (loss runs).List of capital improvements and any and all necessary related documentation and warranties.All existing warranties and guarantees from architects, contractors, and material and equipment suppliers, all of which would be assigned to Purchase.Any existing environmental Phase I/II reports, engineering reports, soil, mold, radon, asbestos, hazardous substance, termite, or other tests, studies, or reports.Any existing appraisals.Itemized inventory of all personal property.Twelve (12) months of utility, water and sewer bills.Twelve (12) months of bank statements.Verification of additional income from operations including but not limited to application, pet, late, and other fees, etc.Copies of title policies, title reports, land surveys, site plans, deeds, or any architectural plans for the property.History of or pending litigation against the Property, its owners, or its managers related to the Property or the operation thereof.Such additional information, documentation, or access as Purchaser shall require

We promptly refunded his money stating he had no signed lease with us.Today we filed the 3 day notice to leave.The tenant keeps saying there's a statute that says because we offered him a lease renewal (even though he refused to sign any of them) that he has 30 days to refuse it and is therefore still under the old lease and only wants to pay for March but leave by April 30th. 

I'm hoping to get a clarification on filing taxes this year.  

So basically I took my tenant to court for failure to pay rent & I was awarded possession but then he filed an appeal so do anyone know how long appeal in Pennsylvania will take?