If you already have existing property and transfer property to an LLC, then it could trigger the due on sale clause the bank.

But it had been for sale on the market since July, 2024. 

you have to inspect BEFORE the sale. 

Hi @Sean Leahy - good direction, I've never considered this but now that I think about, whenever I've had some random rental/sale listings I've been approached by brokers who said they represent folks that are part of the insurance company's claim management process (e.g. their house burnt down due to an accident). 

At the time, we were new to the market and, admittedly, didn’t conduct thorough due diligence before buying.We purchased a property in the Atlanta area, renovated it, and listed it for sale.

This is insane that these guys got that large of deposits on a pre sale rental house construction sent directly to them. 

I did not mention, but this is a probate sale, and the seller is the executor of the estate.

Here are the column headings of the "Amortization Report" portion ...

@JR Gonzalez, You can allocate the proceeds from your sale anyway you want. 

What is your draw fee & benchmarks for the repairs portion of the borrowed money?