You will quickly learn whether you like it or not, how to market, screen applications, manage renters, coordinate and supervise maintenance, and so much more.

@Brandon Bell  In general, yes if assumed the debt will be removed from the seller and transferred to you.

They took our family home threw us on the street when they hospital took our mother( unnecessary surgery took her life.the said they would help with transfer of title but we didn’t know it was fully paid threw her mortgage life insurance!

For those that chose to buy a home at a duty station they then have to decide to sell when they are transferred or hold on to the property.

Your comment on distribution and contribution makes sense though That term is usually used for when the loan/mortgage is under your personal name and then you transferred the deed to the LLC.But if you meant just commingling funds, that's usually a no-no but you must make it clear in allocating those funds between contribution and distribution so that you have a paper-trail of what happened to that money and this way it won't be labeled as commingling

If you transfer post-close, you may violate the "due on sale clause in the mortgage docs," allowing the lender to call your loan due.

It was a dream purchase for me and my wife, but after joining Bigger Pockets and all the great folks on here helped my move into the STR game.We ended up with a standard 2nd home mortgage that was almost immediately transferred so we just started listing it on VRBO and AirBNB.

This step must be done carefully to avoid further damage.Structural Repairs: Address any structural damage first, including the roof, walls, and foundation.Systems Repair: Repair or replace electrical, plumbing, and HVAC systems as needed.Interior Restoration: Once the structural and system repairs are complete, focus on restoring the interior, including insulation, drywall, flooring, and fixtures.Safety and Health Concerns:Air Quality: Ensure proper ventilation and air quality during and after the restoration process to remove smoke odors and contaminants.Mold Remediation: Check for and address any mold growth, which can be a common issue in fire-damaged properties due to water used in firefighting.Final Inspections:City Inspections: Coordinate with the city for final inspections to ensure that the property is safe and habitable.Fire Department Clearance: Obtain clearance from the Fire Department confirming that the property is safe to occupy.I hope this helps, best of luck!

Once funds transferred the joint venture immediately transformed into a bad movie!

Sell, transfer, or exchange real property.