If it’s a chattel filing with the state, the foreclosure would not affect the secured party’s interest… they could still repossess the equipment.

This may be the best time to secure a property, live in it (and less than 20% as a primary), then move or reassess the plan in a year after your mortgage implication is up.

Focusing on securing funding, partnering with quality contractors, and sourcing off-market properties certainly seems to be a winning formula.By prioritizing the purchase price and understanding the needs of both your lenders and contractors, you’ve managed to create a sustainable and successful investment strategy.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Here’s a simplified breakdown:Lease Agreement: Since your buddy signed a 12-month lease in July '24, he is legally protected until the end of the lease term unless the lease has specific clauses allowing early termination under certain conditions.No New Lease Signed: Since no new lease was signed for the new home and no formal agreement was made, the original lease terms for the townhouse still apply.Landlord’s Request: If the landlord wants to break the lease or has changed their mind about the swap, they would typically need a valid reason, like a breach of lease terms, or might need to negotiate an agreement with your buddy (buy out)Legal Advice: Your buddy might consider consulting a local attorney or legal aid service for advice on his specific situation.

With regard to securing a tenant, I think you are attracting the applicants you want, but maybe are gun shy about accepting them. 1.

Here are some pros and cons:Pros:Safety and Security: Requiring background checks for all adult occupants helps ensure that everyone living on your property has been screened for potential risks, such as criminal history.

Is it possible just to secure the additional money needed in repairs? 

The exception is a reverse mortgage which have breach terms that include death of last debtor on title or a surviving spouse.From a practical standpoint, mortgage lenders and their loan servicers are not looking for a reason to accelerate (call loan all due) but may be triggered by poor admin practices of sub-2 buyer.

Any tips on how to secure a deal quickly?