As the value of that arrangement would be above the appraisal amounts alone, someone would be purchasing the whole shooting match. 

The assumption process with Carrington mortgage was delayed and as a result the closing took place after the expiration of the payoff order.

That being said I have seen a large number of "professional" property managers that dont do their jobs well resulting in... below-market rents, bad renters, and bad leases that aren't enforced well.

As a professional property manager, we do move-in and move-out inspections and if those photos do not match, the tenant is responsible.

Bottom line, the specific facts pertaining to the transaction would have to be examined to know when or whether an illegal act has occurred, and what remedies are available to investors who were harmed as a result.

Gotcha...I thought that you were going to use HELOC (or home equity loan) as the down payment on a conventional loan resulting in 100% financed property. 

You can target a specific tenant segment by matching the segment’s housing requirements.Each tenant segment has specific housing requirements and is unlikely to rent properties that don't meet all these requirements.

We have increased our rates as a result, especially for investors. 

The end result was getting some excited buyers that didn't care about all of the issues the first buyer was making up.

I just want to make sure that I am able to fully validate all of the financials and not on the hook/forfeit my deposit if the numbers do not match what's being advertised.