If you get it back expect to pay a good amount in legal feesIf you’re friend did the same they are up the creek too.Hard lesson to learn.

Can I ask why you are looking for a turnkey company vs working with an investor friendly realtor who has a network for you.

Sounds like it could generate some good monthly income, but it could also be a hassle being that far away and only 1 property.Yes, but we have friends in Fairhope that manage rental properties so we aren't as concerned about that. 

Let me check our guidelines on our physician loan and get back to you!

Look at purchase HUDS, statement of work if it was a renovation and the sale HUD to make sure they made money on the deal.An organized and easy to navigate borrower's package.Security documents to collateralize the loan against real, tangible property.I loaned $60K to some “friends from church” for a flip they were doing about 8 years ago.

Prepare for the journey by partnering with an investor-friendly agent.Good luck!

Have you attended any events from this group: https://www.meetup.com/annapolis-baltimore-real-estate-inves...I have friends that attend similar meetings with REA groups in other markets and say it's really useful.

Fannie does have a guideline that allows a property to be deeded over to an entity so long as the original borrower is also in the entity, but you have to wait 6 months of seasoning and maintain continuity of ownership.  

At a high level, this is generally the path people take - we see a lot of people have success in this route - start building the portfolio with banks, low down payments, and then **generally** when you hit around 5 or so properties - it starts to make sense to switch over to LLCs, its too hard to qualify/deal with paperwork of banks and switch towards private lenders like DSCR Loans - (LLC friendly, easier) to scale past 5 or so.

Side note I have one landlord friend who actually has his renew in the middle of winter so they can't find another place.