Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.

Would you charge damages from the security deposit?

It secures the loan with equity from the current portfolio, so providing liquidity for the down payment.

She breezed through her application, has great references and credit score, had already paid her July rent/security deposit, has insurance in place, and is set up for auto-pay going forward.Thanks for your insights!

I'm also considering having them review the lender agreement forms before signing and securing the loan.

You may have to pay off the whole mortgage if the due on sale clause is exercised.No need to move in an LLC if it has a big mortgage and insurance.An LLC can also give you a false sense of security that can easily be pierced with a decent attorney.Just have correct insurance and properly maintain your property.

Russell, the property owners terms of note secured by the real property, unless in foreclosure, have little to do with the tenants obligation. 

The negotiation process was smooth, focusing on securing a favorable purchase price of $52,000, allowing us to execute a quick, profitable flip without extensive renovations.

My strategy is to use the heloc as the down payment to purchase the land and secure financing for a construction loan.

3)  So the FL townhouse is secured by the CO property.