You also need to take other steps (e.g. taking a look at the tax id number).I've seen mortgagees make various mistakes, but I can't say I've seen one in the area where the bank forgot to record the mortgage.

The process will be slow, but with patience and smart planning, you can move forward step by step.🔹 Property Tax Relief – If your property is severely damaged, you may qualify for reassessment and potential tax refunds.

The third property has a nice cash flow.I am wondering if there are steps I can take to reduce the cashflow issues of the 2 properties before obtaining another property, like pay down the mortgages or should I just save the cashflow from the third property to pay for any future expenses?

I have a goal of purchasing a small multifamily this year, so I want to start making the steps to make that happen.

Joining BiggerPockets is a fantastic first step – it’s where so many great real estate journeys start.

The ownership could be changed prior to structuring the parking arrangement, but last-minute changes without time to season the ownership change would significantly increase the risk the transaction could be disallowed as a step transaction under audit.

OTRCH operates a couple of what I call "wet rehab" centers meaning congregate housing for persons otherwise homeless and there are several other agencies like "First Step House" etc. that might be interested in a presence in this block.Or you could cut your losses and put it back on the market under the "greater fool theory."  

I'm not sure how and what to look for in a lender that would take the property as a down payment or what step I should take first.

Holding the new property until passing offers a step-up in basis, eliminating deferred taxes for heirs.

Taking small, manageable steps now will help you make informed decisions when you're ready to invest.Good luck!