.#1 sell back to the owner with a Quit Claim deed and a 2nd position mortgage for the amount I have into the property plus interest and a down payment.#2 if the owner doesn't want to buy it back, I can begin collecting rent since I control the deed in my name at that point.  

Now to the bad news: it is REALLY hard to be a 20yo real estate agent and make a living wage, let alone generate cash for a down payment.

Evict the tenant for non payment of rent.

Because instead of collecting one rent check per month, you’re collecting multiple payments from different tenants.

This would pay us back less than we were owed but still enough to come out whole.We all tried to negotiate a short payoff with the second-position lender, who foolishly demanded payment in full.

This is 5 mobile homes and one building being remodeled as a storage unit. 4 park owned homes and 1 tenant owned home.

Hi Jayce, we got the seller to carry back the portion of the down payment and the bank to finance the 1st position on the rest.

So you pay for it with a credit card and when the bill comes you make the payment.

Breaking Even & Potential Cash Flow•Your goal of breaking even in Year 1 is very achievable, especially with a 5% down payment and PMI removal via renovations.

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.