The seller may be offering to sell the property on a contract for deed, rather than a transfer of deed.  

.: Subject To and Wraps are very similar and yet, very different.Subject To & Wraps share these characteristics You are taking over payment of the mortgage and transferring the property into your name You become the owner The loan does not get paid off The lender can and sometimes will call the Due on Sale You have to have money or credit to solve a Due on Sale call They are used when someone doesn’t have much equity and doesn’t want to pay a real estate agent They are used when the seller wants to sell fast They are used when the property isn’t really a good candidate for the MLS because of the condition of the property They are used when It’s a unique property and it’s hard to find comps They are used when it’s a distressed situation that needs to be resolved They are used when the monthly payment is below market rate (that means it cash flows) They are used when the seller wants to avoid the hassles of listingSubject To & Wraps Differences In a Subject To, NO new mortgage is created.

I believe that it has to be OO for 12 months, barring extraordinary circumstances, like getting transferred out of the area for work.FHA has a whole department dedicated to "occupancy fraud" and given that it's a felony, I'd steer very clear from it.

If you just got this card it probably has a teaser rate now, but you need to be able to do a balance transfer once it runs out if you haven't paid it all off.

Unless otherwise stated herein, the earnest money shall be retained in the broker’s trust account until after title transfer at which time it shall be applied against any compensation due the broker.

Keep your mortgage servicer happy (by paying on time) and you can certainly transfer the deed to your LLC or Land Trust or whatever other strategy you need to do.

I gave them notification that I will be raising rent on this new contract.Should last months rent that they paid in the beginning just get transferred to the new contract plus the rent increase?

You can't just transfer a rental property to an LLC.

After that, I would like to rent it out.With that said, should I buy it under my name and then transfer it to the LLC when the time comes to rent it out, or should I buy it with the LLC immediately?

The Seller's bank needs to be notified of the title transfer, right?