Would it make sense for me to approach him about doing a Warranty or Quit Claim deed to get him out of the mortgage and I take over the payments and ownership of the home and prevent him from foreclosure?

The risk of bankruptcy on single LLC is exactly the flag that has prevented me from jumping in with both feet.  

A few action steps you can take immediately:1)  EDUCATION & CONNECT: Believe me, you haven't watched enough videos and books, BUT without any CONTEXT (which only comes from real-world experience) most of the information/knowledge you're consuming is LOST on you and the seeming immensity of it all is potentially weighing you down preventing you from taking any action at all.Mistakes are inevitable.

I'm an advocate that you can't buy anything off a calculator since they are often so co servatice they may prevent you from pursuing a good deal so getting into as many multi family properties shortens your learning curve- make sure you have a realtor that is a pro on multi family properties or owns some as they would be invaluable

@Don JacksonUnless its specified otherwise in the lease:$100 to replace the furnace filters - This should be a preventative maintenance item charged to you to protect your furnace.

The attorney indicated there are foundation issues which are preventing them from listing it yet.Background - I am a general contractor and realtor.

So our priorities are as follows:1) Make sure everyone is safe2) Find out which tenant's are displaced and how we can help3) Repo out the damaged house/s and follow proper protocol to prevent mold (see article on my website)4) Doing contracting work for other folks 5) Collecting rents for month with a 10 day grace period and working one on one with dramatically impacted tenants (sounds like just 1 or 2 for us)

I work for a small builder in Houston, and we are doing remediation work on flooded homes. I met with a client yesterday who is having a problem with a tenant. One of his rental homes flooded, and she threatened to su...

Having lived in the house for a very short time, I have gotten to know the property and what it needs done as far as preventative maintenance (luckily not much at all).Where I am stumped is my gutters.

I had to wait 2 years after becoming a Realtor to make a purchase, because I didn't realize that changing my occupation (even though it was little money) would prevent me from obtaining decent financing.