The original owner has a ton of exemptions so she only pays $400/ year on property taxes.

Originally posted by @Amaury Reynoso:I am currently pursuing a duplex that I'll be turning into a triplex.

Originally posted by @George Loveless:Thanks for all the replies. 

The buyer makes payments to the seller, who in turn continues making payments on the original loan.Structure: The new loan is typically for the full purchase price, minus any down payment.

Completely renovated from the ground up in 2016, this home boasts fully restored original heart of pine floors.

Then when you inform the newbie of the reality of dong subject to transactions, or I inform them about the pitfalls of originating hard money commercial loans, they accuse us of being bias, killing their dream, "hating" them, etc.  

But I have a new concern.Interestingly, this original question and your responses were featured in David Greene's BiggerPockets episode #969 at 20.33 min mark (https://www.youtube.com/watch?

Nevertheless, this is why the original question gets asked. 

This was just 2 years before the original exit plan of the GP.

Originally posted by @Jim K.