You need to make sure that how the money is collected is 100% collected prior to them putting a single door in the door.  

We’ll also collect rent and pay expenses via our LLC and its new respective bank account(s).  

Realistically it's going to be difficult for you to actually collect the remaining rent amount if the tenant refuses.

If you do a risk assessment of the area, property and likelihood that you can collect rents easily, then you should be good.I have about 25000 saved up and I'm living at home for free how much of that should I spend on a property or save. 

Also, a Bk filing might be in bad faith if the sole reason for it is to delay the foreclosure. 

He will tell you, INTER ALIA, that you want inspection, financing, attorney review, title review, insurance, environmental, and survey review.Second, get a GOOD home inspector lined up.Third, get your banker lined up.THEN you can start looking.Also, keep in mind that backing out of a contract must relate to the contingency being used, and can only be triggered AFTER a good faith effort comply with/fulfill the contingency.

I typically do most of the work myself or hire my handy man who does just about everything and for a great price.I definitely have more experience in the construction industry than in the mortgage one for now, but I would love to chat further if you're willing to share some of the knowledge you have :) (up to this point it has been only my mother and I investing and we have about 6 properties collectively.)Thank you for all of the input!!

I've never been the landlord for a commercial property but have leased commercial property before - I leased through a commercial real estate agent who was acting as a leasing agent for the property owner, and the property owner was the one who collected my rent and is who I made repair requests to so personally haven't dealt with a Commercial PM before but will continue to follow this thread to learn more!

Does anyone have any recommendations on how to expedite this process or a recommendation regarding law firms and collections in Maryland?

Would it be a beneficial/does it make sense to run the "business" transactions through the LLC (collecting rent, maintenance/repairs, etc)?