New cash out refinance loan ($60,000 + wrap closing costs in loan) at 5% interest for 30 year fixed with no outstanding mortgage balance.

I have 10 commercial properties with an outstanding loan total of 5.2 Million.

Knowing damn well a lot are given hand outs.

If the Borrower moves back to the original area, the Borrower is not required to live in the original house and may obtain a new FHA-insured Mortgage on a new Principal Residence, provided the relocation meets the two requirements above.A Borrower may be eligible for another house with an FHA-insured Mortgage if the Borrower provides satisfactory evidence that:• the Borrower has had an increase in legal dependents and the Property now fails to meet family needs; and• the Loan-to-Value (LTV) ratio on the current Principal Residence is equal to or less than 75% or is paid down to that amount, based on the outstanding Mortgage balance and a current residential appraisal.

@Mark GladeYour gain is not sale price less outstanding loan balance.That would mean anyone who buys a property all cash and immediately sells it right after has 100% gain.Gain is calculated as Sales price less purchase price less depreciation taken plus improvements less costs to sell.Work with an accountant to make sure the gain is being calculated correctly.

Damn, didn't you know you started a group @Jonathan Taylor.

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.

If anything the police tend to show up out there pretty damn fast BECAUSE of the area.