Would like to see if he satisified his outstanding promissory notes.

Hello Everyone,Does anyone know of a lender who can provide a 1st lien HELOC on a 2 unit rental property?

Find a great real estate attorney to help you with:1) Putting a lien on the property, with your aunt's consent, to cover any work you do.- Ask the attorney if your aunt & dad need to authorize lien, or just aunt.2) Understanding your options to force payoff of the lien.- Ask attorney how you can enforce collecting on the lien when you need to.3) Getting full control of the property, while allowing your aunt to keep her ownership.- Have attorney draw up a contract to do this.Suggest you offer your dad some cash, now or in the near future, to motivate him to transfer his ownership to you.It may not work out, but you will learn a lot either way!

Two other things to note about #401kloans:Possible benefit if the stock market turns south, the money outstanding against your 401k loan is no longer invested into the market! 

Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

#2...not the zoning, although that can be important too, but the actual property code in the Florida statutes about tax liens and the process. 

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

As mentioned, we "openly and notoriously" record the deed for the world to see so there is no hiding things from the bank (which could be construed as fraud not to mention poses many other risks for creditor liens, etc.) 

. - My second thought is offering some cash and taking over the loan - there are no liens on the property yet.

(1) File FiFa with the courts(2) Find assets (car etc.) to file lien.