So that checking account becomes your depository, with every deposit sweeping to your remaining balance on your loan.

The 401k I used to have said if I default it didn't negatively affect my credit, but that it would become a taxable event like a withdrawal (come tax season) and I would have to pay penalties for the amount I had remaining. 

You will remain responsible for the rent for up to 2 months - but what we will do is turn on our marketing, find a new tenant, and as soon as we get them in the unit, you will be off the hook for the balance of the 2 months owed.  

For some, I accept that these opinions may remain unchanged.

I have about $150k cash on hand as well as I am planning to get a construction loan to cover the remaining cost of a duplex.

From there, form an estimated replacement cost, and write down the estimated remaining life left. 

The beauty is if rents can keep up with expenses then PI remains constant and that is where the appreciation of increasing rents becomes a good thing.Sure overall costs can come in below 50% then that is a safety net.

I have notified our lender (the old seller) in which they are fine with the title change to an LLC (with no due on sale clause), but are not willing to change the payee of the note, in which the mortgage will remain under our personal names. 

The duo skillfully concealed their fraudulent activities, ensuring that their victims remained unaware of the impending collapse.Seeking Justice and Rebuilding Lives -The Brian Dozier Con Artis scam serves as a stark reminder of the dangers that lurk within the world of investments.

Realistically it's going to be difficult for you to actually collect the remaining rent amount if the tenant refuses.