If there is an existing lender not agreeing in writing to accept payments from the LPO buyer, then you are in violation of the statute -- and it is a very toothy statute -- vs the seller/landlord side only thoughWe are getting ready to get one in place because the seller is demanding it and my client is the protected buyer.Yes -- you must vet your sub to buyers -- some should not be anywhere near a wrap transaction.Stay safe out thereAlan

If your parents do not have experience and you are eager to learn, you should come up with a strategy with your parents so that you can start managing the existing portfolio and finding a way to grow it.First and foremost I would maximize the property as much as possible now.How well is it maintained - any deferred maintenance? 

.- Does the condo have an existing STVR permit or will you need to apply for it?

To minimize time the property is vacant, have the Realtor coordinate with the existing Tenant for the last 30 days of their occupancy for showings so you have the best possible chance of securing a new Tenant without a break in between.I would love to know some of the details of your property, and do a rental rate check up to confirm you have the right price. 

A JV structure is good for a one-off deal because the only commitment you have is to the investor(s) and that individual project or deal.So in part, the answer to your question depends on what your objective is. 

They are hard to find, but they do exist.

If you truly believe you have credible capabilities and commitment, you’ll need to convince them that you are worth the risk (which likely will be a hard sell).

We used one of our existing local lenders to provide the majority of the purchase, and the rest was provided from our investors.

Also for all the value they provide the number 1 thing they all exist to do is enrich the Guru and give him a captive audience to sell more stuff to. 

Only in community property states, can an LLC with only husband and wife as members elect to treat their LLC as a disregarded entity, which means all LLC income and expenses are reported on either Schedule C or Schedule E (as appropriate) as if the LLC did not exist.