Of course enforcing this can difficult.

There are plenty of other legislated impediments.

its not legal as most do it in all 50 states just not enforced or prosecuted.. you can close on the home then advertise it for sure.. cant advertise homes you don't own and the equitable interest theory does not stand when you sole business purpose is to emulate real estate broker activities..  

For $50/month we get to deal with rigorous screening of less than ideal tenants, constant calls from tenants, damage to the property every time we turn around because people do not care about things in this class of property, Section 8 and the government (who doesnt love to deal with the governement), maintenance requests because none of the plumbing is updated, codes enforcement because the tenant decided it was a great idea to put a couch in the yard, and last but not least angry owners wondering why their pro forma isnt being met ("I was gunna get a 75% COC on this thing").Now this is a pessimistic view of what it is like but PM is a pretty thankless job, especially in low end properties.

He is there without a lease so that is actually easier for you to enforce.

I had several that contacted me earlier from Puerto Rico wanting to rent sight unseen but this last applicant was the only one that sounded like they would be a good qualifying tenant (retired law enforcement plus a good job lined up here)

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff. 6.

I'm on the rental services commission and I'm frequently going back to review new legislation to ensure we're doing things correctly.

I just don't understand after all the damage they've done ruining people's lives, bankrupting people, taking their life savings law enforcement just gives the a pass.

I would be up front with the bank about it though, and ask if transferring to a single-member LLC triggers it.Normally just because the clause is triggered doesn't mean that it is enforced.