You can also have him place the property in a trust for you as you continue to pay off the loan and control the property.

Government is nailing real estate investorsto the wall in a bold move to control financial crimes.BOI is yet another Federal program, “Beneficial Ownership Information.”The BOI program, a key tool in the fight against financial crimes, requires every business to document it’s 'Beneficial Owners.’

Labor costs are high in NYS so controlling your variable expenses is key.

If it is a term lease, the lease terms will control, to the extent they do not contradict state law.

Then I realized that the rent was about $700 below market rent and my expenses were getting out of control (taxes, insurance, mortgage, repairs) so for the past 8 years I was slowly increasing the rent every year.  

Focus on what YOU KNOW, leverage your team, and control your exit strategy.

To answer your question about raising rents it depends if it is subject to LA Rent Control or not. 

Also if they default on the wrap its easier to unwind and gives you more control.. either way though your on the hook for the 100k.. and if they dont pay you still have to pay on the 100k while you foreclose on your wrap note..

Termination of a month-to-month tenancy is typically controlled by state statute.

Use this turnover as an opportunity to research and find a manager that can stabilize the property and take control of the situation so you can focus on other aspects of life.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.