Usually when you take over a property, you have to catch up any outstanding balances from mortgages, taxes, construction, utility or any other lien.

Property: 4 BD / 2.5 BA 2-story HomeOnline Value: $284k (Z: $292.5k, R: $285k, Red: $275k) less repairsRental Comp Range: $1500-$2100/mo - Most likely $1650-$1750Repairs: $34kActual Value: $250kOutstanding Mortgage Balance: $110kPrevious Purchase Price: $88kRV Purchase Price: $134kHow would you structure this deal to minimize expenses, fees, & taxes given the following info:1) FIL can give transfer property to us given any of the following strategies:    *$0 (gift)   ** $110k (we assume the outstanding balance on his mortgage)   ***We transfer at market rate (quit claim deed adds us to property deed, $110k refi with wife & I assuming all debt, then he's taken off deed w/ quit claim & we pay him 140 payments at $1k month for the equity he has in property w/ no interest).   

Judge blocks the eviction and allows payment for outstanding debt to the landlord.

Mortgage Prepayment Penalty is what it is called and if you sell under a year it would be 2% of the outstanding principal.

I know of some that won't go above $2mm outstanding to an investor. 

You are limited with highway options for commuting to Plano but traffic isn't that bad.

Taxes unfortunately go with the house/property not typically with the owner.Normally when you are closing transactions at a title company, they will help you clean up any outstanding tax issues.

Let's say you have a 3+ year relationship with a customer with $1M+ in loans outstanding and they've never missed a payment. 

Look at things like: Is the park along a major highway?

There are several nice areas with easy access to downtown as there are 4 highways that converge.