@Brian Burkewhat are you seeing for investors appetite in a deal where the sponsors ownership % exceeds their level of capital contribution?

I prefer 30 year notes, allow cash to build up and pay down with excess cash.

If you don't have a PSA, the LA will most likely e-mail you one gratis.If you already have buyers with an appetite for this type of asset in it's location, I say go for it.  

And specifically short on the excessive $21000 EMD due tomorrow.

Which is more likely to occur.  1)  The bank calling a loan due on sale for transferring to an LLC, or 2) A landlord being sued and judgment entered in excess of my liability limits (500,000 per property, 1 million umbrella)?

As an installment sale, they will establish an equitable interest in the property, your idea of simply evict and repeat is old school now, it requires a foreclosure and you may have to sell and allow them to redeem excess amounts from the sale, see your attorney. 9.  

Remember, most other countries don't have real estate markets fuelled by low interest rates and excessive debt.  

In other words, Grandpa purposely didn't deal with the mortgage lien on the property as grandpa was in fact the mortgagee which by causing a default benefits his personal interest as the mortgagee by creating a barrier to reinstatement for lack of debt service and the excessive accrued interest.  

The new mortgage will add to the debt part of the debt to income ratio, so if you dont have excess income to offset that debt, you may exceed the ratio limits.I like Larry have history of rental income, so it can be included in our income, and the income of future purchases.  

We do have some liquid funds to buy properties and we also have in excess of $700,000 in 401k from previous employers to be able to set up a self directed IRA or 401k.