It's becoming nationally known, so hosts who manage their properties correctly are still seeing wonderful revenue numbers!

We have allowed tenants to resolve past due debts or provide letters from previous apartment complexes confirming that damages or unpaid rent were not their responsibility.

First step would be to work with a good investor agent, second step would be getting preapproved so you know what's within your budget for your debt-to-income ratio, and third step is working with your agent to build out the rest of your time and finding a great investment deal!

Hard money lenders focus more on the property’s value rather than your personal debt to income ratio (which traditional banks use) allowing for quicker approval and funding.

I’d like to keep the current fixed-rate mortgage in place and, if possible, have the debt transferred to the LLC as well.

How are you structuring debt vs equity?

That said, I will still try to provide some “clarity”.Purchasing a property “subject to “ the existing debt can be done two ways.  

Please feel free to utilize me as a resource if you want to run through a deal or discuss any of the national or local wholesalers out there. 

The general rule of thumb when using debt is to ensure that whatever asset you buy with the debt should make more than the debt service.  

But ya have to make some educated prognostications in life.Add this to the information your processing - What your talking about doing is eliminating around $4000 or interest expense (which is deductible anyway so really could be a real impact of eliminating $2800 or so) of debt in exchange for paying over $10K in capital gains tax (don't forget possible state gains tax as well).