Changing the deed into an LLC will probably prompt the mortgage company to call the loan - you will have to pay the loan immediately because the property is no longer owned in the same entity that originally got the mortgage.

Financial predators who realize up front that they are not on the note and have no risk to their credit  rip rents with no intention of fulfilling the contracts and original seller gets wiped out.

Originally posted by @Russell Brazil:@Carl Richardson The only work around I see is hiring the "bird dog" as a personal assistant.

Originally posted by @Arnie Abramson:Not in Texas. 

He would try and sell that original loan to investors so they could also fund the draws but he got caught in interest rate spikes and left a lot of people high and dry as he was writing loans at lower rates and when rates spiked the loans were worth a lot less.

My only backup plan if I can't get verified funds is to assume the worst and to drop my counter offer even lower than my original due to the risk I would be taking on, and then when I do my in person inspection try and guess what rents are fair market for the empty units, and ask as many tenants as I can what they pay in rents monthly.

You will need to keep 15-35% of the original capital in the deal, likely.

@Joseph Coleman yes when you originally posted this.

If you're looking for original art, you could consider contacting the AP art teacher at a local high school and asking them to coordinate commissioning a student to make something for you or purchasing from a student.

The project will most likely end up costing us $10-15K more than we originally budgeted, this comes from being new to all this and not knowing near what we know now!