Accept a wire transfer only.

Here is the summary of my situation that requires creative thought:Location: DC Suburbs (Clifton, VA)Original sale price: $300KOriginal mortgage: $240K ($60K down)Money spent rehabbing property since 2008: $70KTotal cash invested: $130KCurrent sale price (based on comps): $430KAmount owed on mortgage: $208KPotential cash generated from sale: $($222K, not including transfer costs)Estimated Monthly Rent: $2,200Current Monthly Payment for M/T/I: $1,300 *Biggest yard and likely one of the most updated homes in a desirable community where "average days to sell" is less than 14.Now the issues:Need $100K-$150K out of the house (or via investment) in order to put down-payment on next home, which will be primary residence (probably a $600K home).I've plugged numbers into every rent-or-sell calculator out there, but always feel like I'm missing something big.

What are the benefits to an investor buying the deed (having the deed transferred in the investors name or LLC) from a homeowner who's home is now in foreclosure?

Hello BP,I currently own a non-performing note under a LLC, I would like to transfer my NPN to a different LLC.  

I'd also ask your tax person about pros/cons of going Sole Proprietorship now and transferring properties to LLC later vs. getting properties titled to LLC from the start.

Our transfer fees, title fees, etc. responsibilities will be the standard defaults. 

Or do you transfer the home into an LLC after purchasing it? 

I'd consult with your lender for the specifics of how the funds should be transferred from your family to you.

They did offer to allow him to transfer the deed back into his name and keep the loan, however due to his circumstances that is not possible.

@Glenn PaulsonI agree with @Will Barnard instead of cashing out your IRA and being subject to an early distribution fee, and higher income taxes, you could transfer those funds into a self-directed IRA and purchase the property in the name of your IRA.