"All Payments made by the Tenant to the Landlord shall be applied as follows; FIRST to any and all outstanding balances due and owing and SECOND, only when any and all outstanding balances have been satisfied, will payments be applied to current rent."

@Aaron SalladeJust remember if there are any other outstanding debts / lawsuits or future lawsuits with the trust you would be assuming those as well.

I also have emailed back and forth a few times with Scott Carter of The Real Estate Center and he has been outstanding as well.Forum wont allow me to post their contact info but google will tell you. 

I’m actially surprised they closed the loan knowing you did a credit card cash advance.That’s one of the things they always frown on.In fact,on one of my cash out refys,they insisted on paying off my outstanding credit card balances from the proceeds before sending whatever was left into my account.WTG though

@Lawrence Briggs outstanding, congratulations.

On top of all this, I realized that the PLOCs had listed in the fine print that each month will require a minimum 2% of the outstanding balance to be paid each month. 

Meaning, you the home buyer will take on your own personal mortgage while the co-op has an outstanding mortgage on the building.This is also why co-ops have higher monthly maintenance costs.

I don't have any outstanding problems or issues but I'd like to see if I need to update any of my docs or the way I'm managing before taking on more tenants. 

Interestingly, although distressed product from the 2005 to 2007 housing boom and ensuing bust has been dwindling over time, the lack of trading supply stems less from a reduction in the outstanding inventory than some other barriers to sales today.Roth said some banks still have "significant" amounts of nonperforming legacy loans in danger of going out of statute each month, but generally aren't selling them.

I have a better system down now and have managed to really scale my model and now have a fleet of 25+ STR units.