I'm not going to ask them for proof, if we get to this point something was done wrong before.

Advanced asset protection via a complex entity structure is for most investors like wearing a bullet proof vest when grocery shopping.

If they have no proof that they notified you of the problems, then how do they justify withholding rent? 

I have several questions - imagine being able to split up property ownership into tiny pieces or having every transaction out there for everyone to see, all secure and tamper-proof.

It is really the Trustee who orders the sale based on notice and proof from the Mortgagee of default.

Your lender may be looking at cash reserves or proof of funds.

Just curious, how did you get a 9-unit under contract without a pre-approval or proof of funds?

This means placing quality tenants, avoiding excessive displays of wealth in poorer areas, and most importantly, not getting involved in things unnecessarily.

I'll ask for the proof of their enrollment to the colleges and I'll talk to their previous landlords.

Also at closing: You should provide proof that the lender is named as such on a valid hazard insurance policy effective at least on the day of closing.Regarding the closing to sell or refi, yes, your lender will just need to provide a payoff letter with wiring instructions to the closing agent.