It should detail any liens or subordinate agreements, including the unpaid balance.

Unless you have a clause in the purchase of the entity that clearly makes you responsible for the entity from the day that you buy it(Indemnification) I wouldn't bother with the LLC.Good luck man. all the best!

I'm in agreement with most of what everyone has said here. 

Quote from @Trevor McCormick: Hi All, looking for some advise or mentoring on purchasing a short term rental property in Kissimmee Florida.1)Is it still a good investment with the current prices?

Is it common to purchase a home with other debt?

The seller will lose some rent, potentially incur costs to evict, possibly costs to clean out the units depending on your sales agreement.

Evicting them, even after purchase, could be a lengthy and costly legal process.

@Shannon VistisenI would definitely purchase it and do it yourself. 

What we have learned is that most people avoid these properties entirely, which allows us to purchase them at a significant discount.

Quote from @Jeremy Jareckyj: Anyone have a good MTR furnished rental agreement they would be willing to share?