It is amazing how such a small thing can change the perception/identity of the property.  

There square measure some websites that conjointly enable you to advertise your business set up and so suit you up with an identical capitalist.

This is damn near identical to how Obama was able to come in and win the election, when everyone knew that ANY democrat with a pulse was going to win because they weren't Bush, or guilty by association a Republican.

@Chris Martell, If Bk were not an option I guess his only other choice would be to skip town and start over under an assumed identity.

I'm 55 years old I carried an Uzi for three years when I was in the service and the only time I was shot at was in 1973 during the Yom Kippur war back in Israel. I

They have pets (allowed by me, although if I had two identical applicants I’d choose the ones without pets).

Non-updated properties nearly identical are selling for 130k right next door (cookie cutter house neighborhood)- My friend would get reimbursed for his mortgage payoff, the rehab loan, plus $15k (this number hasn't been officially determined yet, but 15k would be the upper end of what he gets)- I would get any remaining money from the cash out plus be left with the rental property. - Should be a win-win: he offloads his property with no work and I get a rental for the work I do (all of it I'll do myself) Property numbers: Mortgage balance: $62kARV: 130kCash out 75% = $97,500Expected Rehab: 15kPay friend total of $92,000 = 62k(mortgage payoff) + 15k (rehab) + 15k (cash)Remainder for me: $5,500--------------------------Rental numbers: - Current Rent: $995/month- Monthly Property Tax: $151 (from auditor's website)- Insurance: $65- Vacancy: 8% = $80- CapEx + Maintenance = 10% = $100- Mortgage (5% , 30yr) = $529Cash Flow = $70 (I was away from my spreadsheet when I posted initially, so I was off on cash flow value)-------------------------------Another option my friend is open to is flipping the property and just selling it after the work and splitting the profit 50/50.

In Virginia a transfer to a trustee is only exempt if the grantor and beneficiary of the trust are identical (that doesn't appear to be the case here).

The rules and exclusions on bankruptcy are usually identical to the rules involving asset protection. 

Here are a few for the list that come to mind:-Failure to check that Broker’s representation of nature and condition of collateral is correct;-Failure to catch that Borrower is substantially overpaying for property;-Failure to verify that Borrower statement of business purpose of loan is inaccurate (loan in reality is for personal, household or family purposes) making loan subject to consumer protection laws and disclosure;-Failure to verify that insurance is sufficient and the type of policy that covers lender as insured for loss; or policy lapses after funding and servicer does not catch it;-Failure to verify that broker or arranger is properly licensed such that lender exemption from usury is invalidated;-Failure to monitor and require borrower to keep property taxes current;-Title company e-mail gets “hacked” and you wire funds based on fraudulent e-mail-Not understanding the limitations on your options and problems that come up with "fractional" (multi-lender) loans when they go into default-And here is one for the books that actually happened:: arranger comes into possession of notary stamp and commits identity theft by convincing lender, brokers, escrow and title that she is the person who’s identity has been stolen.