If you are trying to wholesale it, don't. 95% chance you'll just end up keeping their home off the market fit 60-90 days, so they can't sell to a real buyer, then the deals falls apart because you find a buyer, your double close doesn't work (no assignments allowed), etc, etc.

I would have all my docs. run by the attorney, plus have an escrow company for collecting rent and paying the existing mortgage (be sure r.e. taxes are included with that payment also) so it doesn't fall into foreclosure.

If he can do that their (surely forthcoming) sob story to the judge about how this is all a big mistake will fall on deaf ears.

So it falls outside of Fannie/Freddie.  

Cuyahoga Falls is a half way point between the two universities and one of those cities that everyone wants to live in.

This one would fall into the 'you never know' department.

They are (or were) friends and now are having a falling out.  

They fall short of understanding what they're getting involved with.

But the two may not mix.An intermediate product like a TIC is a good thought but since what makes the tic qualify for 1031 treatment is that you take a deeded tenant in common interest in the real estate, it too must fall under the regs.

Hey all-Long time listener, but new poster in the forums.I will be selling my Boulder, CO condo this fall and moving out of state.