Learn to do things right, and build your reputation, because in this business, integrity matters.

I chose them, because in my market they have a strong reputation for doing things right.

I like turnkeys myself because I think the risks are sigggggnificantly lowered as long as you are working with a reputable company because they are doing all the hard work- rehabbing, getting tenants, etc.

This means that the Service will determine the tax consequences of the transaction as though you had taken the depreciation expense, even if you do not.If you mean to minimize the passive losses by decreasing actual operating expenses, then I would be all for that :) I still find it amusing to hear folks talk about investing in real estate for the tax losses.

Does anyone know of a reputable remediation company in the area that they have worked with in the past?

I don't like that kind of thinking but that was his choice and he will have to live with the consequences.

Just be careful that your reputation doesn't get bashed in the process, save that at all costs!

Otherwise a note memorandum in the books to show it as capital being distributed back to you (which could have tax consequences.

You're in Detroit which over the past 10 years has had a reputation for being a tough real estate market.

is there any legal consequence that u can bring on to the broker in this situation?