That's a new consideration for me to know others may not be able to easily finance when I eventually sell.I don't see how that makes any logical sense from a lender (or note holder) risk POV - if the current structure could be permitted and rebuilt to it's current use in the event of destruction, why would the lender care?

Count on them to find something for you to repair/replace during each visit.Generally speaking, you will find Section 8 voucher holders are of a particular class/caliber. 

Note holder offered the guy $1200 for deed in liu.  

GR holder had not contacted me in 5 yrs.

Typically it would go unrecorded and you would not show you have any interest in the property - and if they filed bankruptcy etc it would get very hairy or if you pay them and they don’t pay the bank, Wouldn’t a loan service company make sure the mortgage is paid and the secondary note holder is paid. 

It’s the equity holder who ultimately generates wealth through appreciation, ReFi, reinvestment, rent increases, etc etc.

Definitely find a partner that can help or see if they will down owner finance. maybe 2nd lien holder position.

This is a gentrifying area inside the loop that's 7 minutes from downtown and has a strong pool of HHA voucher holders looking for 4+ bedrooms homes to rent, so the high cost is largely offset by the housing assistance voucher.

The main requirement is that loan holder must remain the majority LLC owner.

But the account holder must know the rules!