I've done this a few times.Most of these loans are managed by service companies so they are not tracking when the property moves into and out of a personal name or an entity. 

I learned that there are great opportunities to purchase low maintenance, fully remodeled homes in places where there are high quality management teams in place that can produce nearly passive income.

I have been managing my parents properties ever since they couldn't manage them themselves.

Condos can be so easy to manage, and you would get amazing tenants in class A buildings that really don't add much stress at all to your life.

@Willie HoldmanBeyond purchase, the issues I see have to do with......management.

With careful planning and management, this could be a viable path to financial security and building wealth.Best of luck with your investment, and feel free to reach out to the community for more advice or support as you move forward!

thank you ray. do you think me setting their current "rate" at the total amount they have been paying with the property management company is their current rate (2863) or is 2795 their rate?

On the other hand, have you considered self-managing?

I would appreciate anyone’s insight on managing contractors quote and how to manage repairs in a cost effective way.

I work for The Realty Medics, a property management company here in Orlando.