My suggestion to obtain a Quit Claim Deed is merely one way to move forward with this deal immediately -despite the problems with administration of the trust. 

I've had the discussion where the advantage of having your own insurance is they lawyers will represent the policy holder as opposed to maybe a sub added to the policy. 

@Brandon Kamm your absolutely right when I wrote the original post I was merely going off the sellers word about the property tax but after further research we discovered its an additional  $4,200 due every year for taxes for the county so were adjusting our numbers now.

With that in mind, let’s dispense with a mere $70,000 loan.

The only thing I disagree with Jon about is there is no additional liability protection with this model because the LLC is not the owner of the property, merely the manager.You don't necessarily have to form an LLC to do this, Kelsey;  you could probably just do a DBA that has both your tax IDs associated with it. 

You may be able to argue that the old lease is still in effect, and has merely gone month to month.

If you merely transfer the bank may not look favorably upon it and if you refi you will likely end up with a worse rate.

The numbers don't allow me to be profitable having that as a rental property but my family living in it allows us to live basically free, only a mere 200 required for taxes a month. 

A fiduciary is prohibited from putting their own economic interests ahead of yours, a mere salesman is allowed to do exactly that.

.• You need to sleep or rest to meet the demands of your work while away from home.This rest requirement isn’t satisfied by merely napping in your car.