If you are just downloading data room info from brokerage sites and plugging into a model, you are refining your skills on the "act", which is certainly necessary and helps make the process faster.  

If your firend wants to stay in the place AND has the funds/income to do so, they need to refinance in their name ASAP (as part of the process), not 5 yeas from now, not if they remarry, not 10years from now.   

I won't just write them all here but I highly recommend contacting a qualified 1031 intermediary to walk you through the process.

Now you repeat that process until it's paid off.Disadvantages:It took a while for me to set up.Bank account is always low, lol.People can spend a lot with that amount of credit.People think I'm weird when I tell them DId you analyze what would happen if you moved all of that money you were using to pay off a heloc, not get a heloc and put that money in a treasury or other type of account that got you 6% interest or invest in an ETF or something lower risk?

We went through this process twice with them.

This will help me address the process and opportunities more thoroughly and effectively.Thank you in advance for sharing your experiences and thoughts—I truly value your input!

Hi Ashley, We have found what works well for us, as well as our clients is to ask them during the on boarding process if they have any preferred contractors.  

There is a flaw in the business model and thier internal processes need a lot of work.First the good,Yes, I got paid every month.Nomad found me good renters.Next the badDue to needing to make the guaranteed rent they rented my unit below market valueIn communicating with Nomad they were disorganized, often sending conflicting messages and not alignedNomad offered to find me a repair company, that compnany charged $400 for a $25 dollar part and I was stuck with Nomad saying "not their problem" and the vendor saying Nomad was the client not me.Nomad was horrible to my renters as their property management term ended.

I imagine the whole process is simpler but can anyone tell me how different it is when you don't borrow the rehab costs?

The "due on sale" clause (DoSC) obligates the seller to notify the lender if the property is sold.Failing to do so would place the seller in violation of this agreement, giving the lender the right to accelerate the loan.But no laws are being broken here.So, subto is neither legal nor illegal.Second, it only works because most lenders are more interested in receiving payments than in invoking the DoSC clause and foreclosing on the property.But, it can work, provided seller and buyer are both on board and the proper process is followed.