I bet they got their "information" from the internet.

@Patrick Boutin -- Your best bet to find a title company that will do this for you is to get a recommendation from another investor nearby who is already doing it.

I’m willing to bet you’ve done a lot of research about wholesaling, flipping, etc. but still feel lacking in experience and knowledge.  

But I am not betting on that.

I bet title was in the name of the company and each investor got their interest in a partial assignment.. we used to do 104.1 endorsements. 

I bet you have come close to setting a record for a student starting from scratch and doing 16 deals in 6 months..

So, you can add SEC violations to the list of things he did wrong.Since you now have the notes in your possession and are actively working them, that might have changed now however, I would bet that if you contacted the SEC and told them this story, they would probably take action.

Someone local, who knows the area and how properties move is the best bet for the most accurate answer for you. 

I agree though with everyone, best bet is to buy him out asap so you can do what you want with it to upgrade it and then decide.

DSCR is your best bet.