The mortgage & re industry does not want to see seller finances and the banks don't want to see their loans that they underwrote transferred.

Now he is saying that it's a "second home" mortgage (higher interest rate) because she won't be living there (but if I buy in MD, we still have to pay the state transfer tax because I have owned in MD before.)

Do I create an LLC to own the property and use a quit claim deed to transfer ownership?

@Jacob PalmerTaking over tenants in a duplex means you must honor lease agreements, transfer security deposits, and provide proper notice.

Yes I didn’t transfer the service right over to my name, and I’m realizing this is one of my biggest down falls.

The security deposit should also be transferred to you as part of the closing.

It's hard to ignore the benefit that any tax saved is basically a wealth transfer gift to the beneficiaries. 

.- Flexible transactions make it easier to sell, transfer, or refinance individual properties.Considerations- State variations mean that not all states recognize Series LLCs.- Management complexity necessitates careful documentation and legal compliance.- Lender familiarity issues arise as some lenders may not understand Series LLCs, thereby complicating financing.A Series LLC offers a streamlined, protective, and flexible way to manage multiple real estate investments.Thanks,

@John UnderwoodMost likely it was a land contract they were buying which also would include assignment of land contractFor deed of trust / mortgage you get the assignment and allongeI know they are coming out with improvements to the site.If you think the buying process is challenging wait till you have to transfer a loan for servicing (not a paperstac issue) but that process is like catching your nails on a chalkboard

So, lemme get this straight: You concealed from your lender your plan to transfer the property to a commercial entity after obtaining the loan based on your personal liability.