If the market rents do not cover the mortgage, you may do a no ratio DSCR for a higher rate/reduced LTV  Which most likely the 1007 will be nowhere near the revenue generated by a PadSplit operation.

Many of our LLCs have virtually no digital footprint.

Obviously, they have no intention of following the law & I wouldn't count on them to adhere to your lease provisions, either.Don't get me wrong - I love dogs & my pit (who went through the big doggie door in the sky many years ago) was the best dog, ever!

The owners who switch to a PM come to me for the same reasons Drew said above.It is not rocket science, most folks hit a point where they no longer want to trade their time for money. 

There is no penalty for starting and not completing a 1031 exchange.A costly reverse exchange can help you definitely.  

If the property sold today, after 1% cost of sale there's only $2.5 million in cash coming from that sale and that's assuming that there's no exit fee on the loan and no outstanding payables. 

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

It's no guarantee but it's a good place to start.

Also, in a mainstream asset class like value-added multifamily, I see no reason to take a risk on a sponsor that doesn't have full real estate cycle experience or that lost anything more than a small amount of money (and prefer no money lost).

Quote from @Account Closed: Honestly have no clue, but my guess would be contact a lawyer who specializes in real estate.I am also trying to get a hold of other wholesalers in my area and real estate agents.