The Property is NOT under rent control.

., (b) the type that allows alternatives but doesn't give you direct control over your money, and (c) Checkbook 401k that gives you total control and flexibility to invest in real estate, private lending, etc. 

Specialty firms typically referred to as IRA facilitators and advisors perform this type of legal service.If you qualify as self-employed and have no full time employees, a Solo 401(k) is also going to provide checkbook control, and as a retirement plan has several advantages over the comparable IRA LLC.

The only reason I would see to not keep a perfectly performing cash flowing property would be drastic uncertain market conditions, need for funds, control more debt, or to lighten risk. 

The idea of “shady paperwork” is usually just a delusion promoted by some.Someone with legal control over the property /estate needs to reach out to the bank if you want to explore the possibility of a discounted pay off.

I buy properties by "taking over" the mortgage & the payment of the mortgage and then I control the property.

The property is a 5 unit building with the following information: Rental income is $4,000 per month or $48,000 per year totalTaxes are $375 per month or $4,500 per year (this is higher than current but factoring in that they will increase)Estimated insurance is $200 per month or $2,400 per yearExpenses: Vacancy 8%Management 10%Other expenses Landlord pays water at $400 per month or $4,800 per year Realize this could be a cost savings in the future, but want to analyze as isGeneral maintenance (including minor repairs on property) including grass and pest control estimate at $300 per month or $3,600 per yearCapital reserves for Cap ex (appliances, windows (52 windows on building), roof, siding, etc. which I based on building a capitalization table based on useful life of items and number of units) at $460 per month or $5,520 per yearLoan: All in after down payment the loan would be for $300,000Assuming 7% interest rateAmortized over 20 yearsThus comes out to $2,325 per month or $27,900 per yearSummary Income Per Year:$48,000Property Exp.

The BRRRR method is awesome and can get you controlling large amounts of debt quickly.

I commend you for thinking about  & planning to take control of your future.A Typical Mortgage Lender will need to see how you can pay back the Mortgage based on your current income. 

I do Invest my own money (mostly in weed stocks) but I am looking to make a investment that is not an equity product, where I have more control.