It also positions you to work more effectively with lenders and partners who want to see a professional financial setup.How are others here organizing their finances?

Basically if there is no "living room" and there are no comparable properties with similar square footage and bed/bath count in your area the property becomes difficult to comp or sell and lenders will not be able to use it as collateral for a loan Excellent point.

Stanley - I would suggest that you go have 3-5 conversations with lenders and understand how much they are willing to lend to you given your financial situation.

Talk to lender to find out how to transfer assets without triggering due on sale clause.Did I get all that right?

This deal originally was supposed to happen in December 2023 but the seller wanted to wait.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

People are chomping at the bit thinking they are going to get a steal for this property and they keep calling us as the lender.

Hi Nate - It'd be worth asking the lender for a detailed breakdown of closing costs for this program, as well as an estimate of the interest rate you'd get with today's rates (they'll probably need to pull your credit to do this).

Prior to losing the home in foreclosure the previous owner had retaliated against the lender by cutting out most of the exposed electrical wiring and removing the heat and air units from the property. 

Just a place for lenders to find borrowers and vs vrsa. 

The lender required that the property be tenant occupied/cash flowing.