Hell, if all it takes is offering out some software, i think i gotta call IT in India and get ball rolling, people paying me for chance to send me deals, LMAO, that is a new Pet Rock for sure. 

If the LLC is the maker on the note, there's a good chance you'll be required to personally guarantee the note.

If you're looking to do value-added deals out of state, you're decreasing the chances of having a successful experience.

It's likely they’re using this as an excuse to avoid paying rent, and there’s a good chance they didn’t pay the previous manager either.

@Jackson Pudlo you'll have a better chance of success managing a unit right next door and learn a lot.Versus...Buying a rental in a few years that not near you.One of the biggest mistakes newbie investors make is not paying enough attention to their rentals because they are too busy with family & work.You really won't be able to ignore a rental next door to you!

Chris, Agreed & I see a VERY low probability that interest rates will be in 4s or 5s in 2025, so those deals with variable rate debt will likely continue to bleed. no chance rates will be in the 4s  potentiall higher or mid 5s though.. we just locked in a 6% so getting close. 

Sub2 is a risky strategy for a long term buy and hold as the longer the deal structure stays in place, the higher the chance that issues will arise (like issues with the loan servicer, insurance, seller filing for bankruptcy, seller dying, seller realizing their DTI ratio and ability to buy their next property is negatively effected and becoming upset about it like in your case, due on sale clause being called, etc.).

Hey John,No I haven't had the chance yet unfortunately. 

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.