As Ian said, it's like missing the bus - if doesn't feel great, but another bus is coming.  

We market the property as available now, meaning that it doesn't have to be repaired and/or it is vacant.

The doubts we have are1) There is a due on sale clause or something that doesn't allow the loan to be transferred to an LLC?

Problem is only "RE pros" get to do it.There are 3 income classifications in the US - Active, Portfolio, and PassiveActive income is income derived from your job, or normal trade or business.Portfolio income is derived from bank instruments - stocks, bonds, etc.Passive income is income earned from investments.Active losses can wipe out both passive and portfolio income, but it doesn't work the other way around.Portfolio (capital) losses are limited to $3,000 annually.Passive losses can only be offset by passive gains.Real estate rental income by its nature is deemed passive per IRC Sec 469One way to get around it is to become a pro - spend more than 750 hours or 1/2 your time in real estate.But most folks aren't real estate pros.

Now he reports not being able to pay his end and doesn’t want the property anymore.

Move slow, ask lots of questions, and don't be afraid to pass on a deal that doesn't feel right.Feel free to reach out if you want some resources on the Detroit market.

LeadSherpa is a good service i had a lot of experience with if you want to go that route.The two best strategies I’ve found are inbound methods: direct mail and Google Ads.Direct mail can be expensive, but it can also yield highly discounted properties.Google Ads, on the other hand, doesn’t require data extraction like calls, direct mail, or texting.

There are advantages to many real estate assets, but that doesn't mean you invest in the them just to get a tax liability.

Different companies have different fees and - more importantly - not all managers are created equal.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

That doesn't make it a deal, it's just being marketed a different way.