Effective December 1, 2024, ownership of the property has been transferred from Michael Anderson to Electric Sage Brush, a limited liability company.All terms and conditions of this lease agreement remain in full effect, and all payments, notices, and correspondence should henceforth be directed to Electric Sage Brush LLC at the following address:2001 Space Odyssey Dr, Cody, WY 82414This change in ownership does not affect the tenant’s rights or obligations under the lease agreement.All parties sign to confirm the change.

This will usually lead you directly to low barrier stagnant markets where the cash flow represented in your spreadsheet does not transfer to reality and the most of the equity is "paper equity" because you will never see it materialize yet many look at completing the BRRRR as the ultimate success.I recognize I am using some assumptions but let's assume you have $100k to invest and purchase and renovate a home in MARKET A for $400K but once renovated the home is worth $500K.

If your income is transferable, you could get back on your feet much more quickly by moving to cheaper, less competitive market out of state.

If you wholesale, and there is only 1 deed transfer with a gap fee going to the wholesaler, that's ok in NJ.

Therefore expect a 15 page home inspection report   filled with corrective measures you must satisfy otherwise the buyer walks.All in between turning over the home, ordinary transactional costs ( broker fees, transfer tax, loan payoff fees etc.) seller assist, repair addendum repairs its very possible for your exit fees to approach 13-15% of the properties sale price. 

But, i do have a couple of LLC's, mainly for transferring property to children or spouse when I drop dead. 

note investor buys a wrap note does not go through escrow and does not realize the person they bought the note from did not pay the underlying when the money was transfered.  

Usually an appraisal can be transferred to a new lender, so as long as it wasn't completed 90+ days ago, it should still be valid.

This allows you to call a default if your borrower transfers property ownership to another entity.

It just means as a Banker I see the banks money as the way to get rich and save your hard earned money for retirement.If you use your money and fail you are broke, if you use the banks money and fail you sell or find a way to transfer the debt.