However, deeds in lieu of foreclosure can be subject to judicial attack by their grantors and their grantors' creditors.Grounds for attacks on deeds in lieu of foreclosure include the following:• That the deed was an equitable mortgage - that the parties intended the deed to be given as security for a debt and that the deed was not an absolute conveyance.• That the deed is either a preferential or fraudulent transaction within the purview of the provisions of the federal Bankruptcy Act or any other related state law.• That the deed is a device to clog a mortgagor's right of redemption.• Unfairness of the consideration.• Coercion, fraud, oppression, duress, and undue influence.• That the deed is not subsequent to the execution of the mortgage but contemporaneous with it.• That the grantor/mortgagor was insolvent at the time of the execution of the deed.An estoppel affidavit (executed and acknowledged by the grantor/mortgagor, attesting to the fairness of the transaction, the consideration exchanged, the value of the property, and other factors showing an intention to make a genuine transfer) or a recital (inserted directly in the deed) are supporting documents used to forestall challenges to these transactions.State law and local title standards must be consulted in regard to the consideration and treatment of deeds in lieu of foreclosure.What a GREAT post!   

Nicholas,The one piece of advice I would give is refinance the Condo before you start renting it out. 

The updates they provide are bare bones and usually only come after I've reached out to them asking about the investment.

Drive around the neighborhoods to understand the lay of the land - if you have someone who will take you around and explain, better yet. 

Not sure what the out come was but it made headline news.I think that was the one I was following a few years ago. 

For practitioners in the real estate industry, the biggest challenge is not just the difficult work, high risks, or immense pressure, but the necessity to learn to let go of complete control over outcomes.

A 5000+ sqf Triplex located in the Tremont Area of Cleveland.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

What are the costs for the value adds, the expected hold time, and the expected sale price? 

Welcome to the forum.