And accompanying it all he rarely communicated even vital information.If you are considering using TexasCashFlow.com to invest in real-estate, please be forewarned and prepared to deal with these same outcomes.

Here's my key advice:Credit check you can simply ask them to provide but for me it's not necessarily a huge concern.A current credit history is a vital concern.  

This will definitely help me make modifications to the lease going forward and I appreciate your tip on having the guarantors apply and become approved but not actually sign the lease.  

Needless to say there was a lot going on in this property.We had to go through two different lenders AND appraisers to make the deal happen all while no modifications to the property were completed.

@Brad PenleyFlorida being a tax free state is a great start, of course I have to mention you could also look at Vegas.You forgot to mention a couple vital points(1) How much of that $1million is capital gains, how many years of depreciation recapture are you going to have, and what do you owe on it?

The problem your friend faces is that a lot of traditional lenders won't work with borrowers towards a loan modification unless they are already not paying and then it's not guaranteed that they will anyway.

We vastly prefer brick-veneer properties when we can get them, slate roofs always a plus, the least major upgrading and modification on the original build possible.

And yes, you should always make modifications based on whether you're the purchaser or seller and depending on numerous other factors specific to each sale/purchase. 

@Gregory DeRossoI am a developer in northern jersey and I can’t begin to tell you how vital is it to have my license.

Seller got a loan for $94k in 2000 from Lender A, secured by a deed on the propertySeller got another loan for $105k in 2002 from Lender A, secured by a deed on the property Seller claims that this was a refinance of the original loan, with additional debt rolled inLoan docs from the seller suggest this is true, BUT the box labeled "refinance" is not checkedNo modification or release was ever filed for the 2000 deedTitle policy from the 2002 transaction listed the original 2000 deed as an exception to coverageThe HUD-1 settlement from 2002 doesn't show any specific payoff of the original note.The current loan servicer sent a payoff statement that will release the 2002 deed, but no mention of the 2000 deedI reached the person listed as trustee on the deeds.