@Rochelle GerberHere are some of the downsides of putting real estate into an IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

One even said they were a reservist, but the applicant is claiming they are active duty.

@Ed Hoffman  actually, you can transfer it via Quit Claim right there at the closing table before you leave the title company.

You seem extremely confident in your initial claims, take me up on it.Either way, I do appreciate the honest feed back on my posts from both of you, I understand that NY is one of the hardest markets to succeed in, but I am a firm believer in the Stockdale Paradox (Jim Collins, Good to Great).Best,-JonThis wasn't a back and forth.

Legally you can claim estoppel and latches as a defense as they let it go on for so many years and you relied on it when buying. 

Victor is right they are becoming significantly more strict at approving these.

Once you have made contact, you will purchase the property or have them deed it to you through a quit claim deed subject to the liens.

Property Condition Report: Document the property's condition with the tenant to manage future damage claims.4.

I can however purchase the house cash for $30,000 without having any title work but of course take the risk on of someone potentially claiming their stake (the odds of this seem very low).

Posting claims like that can really impact the trust we work hard to build.Best of luck with your future endeavors, Jasmine.– Kai Andrew