While I understand the basic structure of General Partners (GP) and Limited Partners (LP), I was under the impression that GPs always had to put 'skin in the game.'

It’s all about finding someone who understands your goals (buy-and-hold, flips, etc.) and knows the market inside out.

The agreement of forbearance or modification should have the borrowers knowledge that they are in default, that they understand that the lender is forgoing foreclosure at this time in exchange for the deed in lieu, and that the borrower is represented by legal counsel.  

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I’m struggling to understand why all of this is necessary just to use their property management software.

If there is a due on sale clause in the loan doc then it doesn’t matter what the loan officer told you verbally.I’m not an attorney, but from my understanding of the loan is still in your name personally a good litigator can pierce the veil and your LLC protection wouldn’t amount to much.

You are correct, local banks would go in and sit with them and go through rates and financing and understanding the payment.

My current goal is to analyze properties for potential deals on BP pro daily and start wrapping my head a general understanding of the process. 

Bob - I have five occupied padsplits under contract right now with Fernando Corona and have closed several with him this year.Normal DSCR brokers have issues getting this through underwriting - it's important to work with a broker / lender that fully understands how to get these to CTC.I'll PM you

I'd be happy to provide some recommendations and suggestions for your situation as a foreign citizen living in Miami.First, it's important to have a good understanding of the local real estate market, including pricing trends and neighborhood dynamics.