If the proposed loan is too risky because (1) chance of default is too high and or (2) cost of foreclosing too high or time it takes too long and we would otherwise decline the loan, we might offer to purchase the subject property for a price equal to the loan amount.  

Unfortunately, that is an expensive time-consuming process.

My first STR, purchased in 2005, was negative cash flow for 4 years.

If you did and had problems leave them a review with the Better Business Bureau, here and also contact the FTC Consumer Protection division.

Here are the pros as i see it: easy (no purchase necessary, you know the property), likely prop 13 property tax discount, possibly below current rate loan.  

Where are getting that consumers pay three times as much in commissions as other developed countries?

Purchase price: $225,000 Cash invested: $56,000 Purchased 4-plex from a wholesaler.

Should I consider: Purchasing rental properties?

.: I am getting conflicting information from 2 entities that help create LLCsThe property I am buying is in Arkansas, but I want to open an LLC in Wyoming One entity that helps creates LLCs is telling me that the WY LLC can own a property in Arkansas.Another entity that helps creates LLCs is telling me that the WY LLC cannot own a property in Arkansas, and I will need to create another LLC in Arkansas and the WY LLC will own/manage the Arkansas LLC.Can anyone who has actually created a WY LLC and used it to purchase property elsewhere answer this question for me please?

Help him purchase another home Subject to that existing mortgage.