This is particularly important as you acquire more properties.Transferring the Property: If you're thinking about transferring your current rental property into an LLC, be aware of potential challenges that I have personally seenMortgage Implications: Check your mortgage agreement for any clauses related to property transfer.

"Seller" allowed a syndicator to "buy" the deal by paying "seller" presumably a lot of money and an agreement to take over all operations.  

There are some forms of income that do not require any receipt to use which are some of the above (full time job just offer letter or ownership of newly acquired rental property (lease agreement + security deposit/rent proof only).If you dont plan to go back to full doc then stay in the no income/state world and the premium for these products varies between 1-2.5% higher than full doc fannie/freddie/FHA/VA rates but pros and cons right?

These agreements enable homeowners to access their equity without taking on additional debt.

Either case shows the application is not binding.The lease, however is a binding legal agreement.

Thanks for all the feedback on the operating agreement.

In my experience, being upfront about wholesaling and explaining that you’re looking to assign the contract has resulted in numerous signed agreements.

We are getting push back from the seller about creating a purchase agreement with our lawyer that they would then need to review with a lawyer.

My Lawer was livid when he heard they tried to entrap me by calling the morning of the eviction and getting me to some agreement. 

It requires a lot more work, follow up, and it's necessary to have systems in place to support the tenant vetting, rent collection and creating lease agreements.