I will run it continuously and make modifications as I get feedback and also add other lists like forclosure and inherited.I have a google voice set up and I will also have a voicemail that helps screen the callers when I cannot answer the phone.  

BoA has stopped their foreclosures trying to get their homeowners to do a mortgage modification so they can get an original note signed by the borrower (not one of the banks robosigners that were signing up to 5000 documents a day to try and recreate the paper trail they needed to foreclose).

This is something I have been working on and learning from for about 5 years and this interest is ultimately what got me interested in Real Estate.Something I have taken away from BiggerPockets books and from reading online is that it is vital to start in real estate investing as early as you can and also to take action rather then simply reading about it, researching, and making excuses as to why you have not started yet. 

As I am not familiar with MA deed transfer/modification fees, sounds like a nice cheap way to get his name on title.Though, given the stated intention is to rent the property, I would want to shield the parents from any potential liability caused by renting the property. 

Maybe I'm a little slow but there always seemed to be a vital step missing.

Its vital that you follow through with it and use it on all future deals.

I have learned a couple of things though from the time I have invested here.1) Building RE connections is vital to RE investing in general. 2) Good communication skills are important.

It is a Federal Crime to do any modifications prior to closingSince HUD does not provide FHA appraisals any longer even FHA loans are difficult .  

I have until mid-July for the modification paperwork to occur and my view is making an offer direct with the bank and see what they say. 

Sure markets shift and modifications to the system may be necessary at some point but a proven system can take alot of the fear & risk out of it.