You really have no control over the guests... sometimes it's just cultural belief, there's one condo in Hilo that was on the market for a year and the deficiency in that apartment was the owner committing suicide. 

The Home Inspector report revealed major deficiencies in the rehab and the Home Inspector told me that the rehab was like “putting lipstick on a pig”.

If the payment is $1,234,56 your #1 payment is $1,234.56 to the lender and if you did a Carry back of $50,000 @ 4% your Carry Back payment is $238,71 to the sellerThere will be more in Part 2 of Subject To vs Wraps Similarities and Differences Part 2Numbers 5 and 6 of similarity are dubious as a practical matter.A seller can always interplead you (the buyer) in a mortgage foreclosure so you have no protection from a deficiency judgment.From one of your prior posts to me when I took you guys to task about “subject to” you remarked that it’s just numbers.

Not sure if your inferring my 30+ yrs knowledge and experience isn't enough or just telegraphing your supreme deficiency in powers of assumption. 

Literally any closing attorney you know will take care of this for you for $150 bucks (I know, because I do this for my clients).Step 4, If you will be self-managing, get 3 documents ready to go: a lease, a deficiency notice, and a non-renewal letter. 

Probably have ran out of statute of limitations so the banks are noting the deficiency as a gain for you.

The US housing market is deficient in its supplyfor homes and apartments both, which is why price growth hasn’t abated.

In a state that a lender can get a deficiancy judgement if the deal goes through foreclosure the client can get their credit trashed and end up with a big fat judgement against them.. ( state specific).the reason your probably getting buyers that want to do this is because of all the online notoriety currently like Pace Morby who is huge in the space and the legions of students and followers and then to a lesser extent there is BP's own Sub to Guys..

The lender isn't bound by your operating agreement, they are bound by the loan agreement, which will most certainly say that you each are jointly and severally liable (which means that each of you and all of you are responsible for the whole deficiency--basically whoever they can get to first, or whoever has the most assets for them to seize).This is why a wealthy person wouldn't want to sign a PG with a broke partner(s). 

Unless the HML is Joe's Uncle, who knows nothing about RE, they are generally not going to lend you something that's guaranteed to fail which is the case using your original numbers.If you're not on the personal hook for any deficiency, or don't have any assets, you may have to just chalk this one up to bankruptcy and learn from the mistakes.