This would allow you to access some cash for other purposes ( Tax Free) because a refinance is not a taxable event.

If he must attempt to get the low interest rates of 2021 on this deal, I suggest that he instead look for assumable loans.

and a big believer in starting a conversation about how can we make this transition doable for you. 

Yep - My firm can do this for rate-term refinances and/or acquisitions, with stipulations (specifically for 85% LTV): Min DSCR of 1.25x+, Min FICO of 720+, SFRs.

Deal with it.Correct me where I'm wrong but Novations can be executed by either a Power of Attorney being given to the investor or by an investor just doing the paperwork, both being done after they secure their interest with an option contract (unless there's some other creative thing I haven't heard about yet).

This worries me a little.

Why not take his name off the LLC and put it in your name now while the LLC has $0 of value (or whatever nominal amount your articles of organization or operating agreement say that you contributed)?

Wow, this was a great article

Has anyone actually made money with this?

This is tough for new investors that focus so hard on cash flow as their main criteria.