Its standard builder grade that I believe most people are sick of. 

But, for instance, someone who has lost their job, probates, someone who has been transferred, needs an immediate sale, it's been a long time on the MLS but hasn't sold, plus properties not up to MLS standards so they won’t list well on the MLS, and other of "life's occurrences" are all reasons some people sell on subject to.

A third party likely purchased that debt from the original lender (uncollectible by typical debt collector standards) for pennies on the dollar. 

Is this standard practice in the legal field?

What about good Standard Operating Procedures (SOPs) to make it easily repeatable?

But it you really want new financing you  should look into either a standard fannie/freddie investor loan or a DSCR loan depending on your situation

If you have just one long-term tenant in your house hack duplex, and you're taking a $30,000 guru course on making money from assisted living or storage facilities or on running a syndication - it is probably not deductible under Section 162. 

Once the house is done, the loan converts into a standard mortgage.

So if the property is in your name and you write a lease in the name of ABC Management that is completely fine since they are synonymous.What you're referencing is standard operating procedure for anyone starting a sole proprietorship who doesn't want to use their own name exclusively.Hopefully I've explained this well.

Property management will not be a standardized form.