Be careful of such situations as it is very easy to get into a situation where you have to evict right after putting down good money to purchase the unit.

Hi All, I picked up a rental property about a month ago and funds were to be distributed into my bank account August 31st / September 1st from my PM company however I have not received them yet.Just wanted to get opinions on this situation;  and if this has happened to you,, recommendations on how I should go about making sure its taken care of / dealt with?

You would also have a higher duty of care with this type of building and therefore, higher liability.

It doesn't impact the mortgage so the lender shouldn't care (not something they need to know about). 

@Colette Chase  I agree with @Kimberly Jones, be careful about the area. 

Some precautions to consider:- Make sure the person who is the borrower of the underlying bank mortgage fully understands the implications  of a wrap, as well as the buyer- Consider a 5 or 10yr balloon note (vs. 30yr fixed) if you are worried that the seller may have 2nd thoughts down the road- Buyers should need to bring a significant down payment to the deal so that they have skin in the game- If your state allows a Deed of Trust for the wrap note, I suggest using that document (vs. a Mortgage) as it will put a lien on the house allow the Seller to pursue a non-judicial foreclosure if the buyer does not perform.- The home insurance after the sale (the new owner is the "insured") should retain the name of the previous owner(payor of the bank note) on the insurance as "additional insured" so as to not set off any alarms with the bank.- Use a 3rd party loan servicing company to collect all mortgage and escrow payments and make all appropriate payments to the bank lender as well as seller finance lender.   

Still looking for a reasonable licensed plumber, but the contractor usually takes care of this.4.

Nobody cares if you mess up so neither should you. 

Tread carefully though.

If it needs work, perhaps you should look into building corporate credit while you take care of your personal credit.