They also have a regional manager above that watching over multiple properties.There is additionally a separate company that audits the individual property managers at the properties.So basically the owner puts in layers oversight so that he never has to (step in) when someone is out for sickness,vacation,etc. 

For example an individual puts their property into a LLC - its hard to know from the deed whether this was a true sale to a 3rd party, or in this case, not.

Make sure the HOA is not laddened with a lot of liabilities that can filter down to the individual homeowners i.e. lawsuits, liens, foreclosure inventory, difficulty collecting HOA fees, etc.

Lloyd, thankyou for explaining what you do.Do you just set up individual appointments with your buyers and sellers when doing that walk through?

Since in most vacant homes there may be squatters or other trespassing individuals

As many of you are well aware, I am no fan of RTO or LTO as I believe there are serious legal issues at both state and federal levels involving the concept of both of these being a form of a disguised credit transaction and that further individuals or organizations so engaged also fail to comply with other state and federal laws they are subject to. 

What are the ramifications of this, what if one day I want to live in one of those properties, how easy would it be to transfer it back to individual ownership?

We were able to buy partial interests from each one of the individual heirs separately from one another who all had their own personal problems. in total, This estate had about 25 heirs with interest ranging from 1% to 50% in each of these properties.

In total, a little over 2000 individual transactions.  

Yes people can individually pay for them but again, very small market.