Jonathan will be speaking at BPCON on a panel: How to Flip Properties: The Right Team, Right Price, and Right Operation with High Interest Rates or Out of State if you have any interest seeing him live in action! 

Your proof is a warranty deed.A warranty deed is a written legal document that transfers legal and equitable title of real property from one person or entity to another.

I have been offered an exclusive Deal by a local "friend"/ semi-mentor in my small town.  8 standard 2/1 apartments -  Quad, duplex, duplex, 1970 Dated buildings, little neglected but liveableOwner finance: 20yr 6%rate with 20k down------------------------------------------------Total purchase 400KCurrent NOI: 41k     Cap: 10         (Tax,Ins,Maint, Util)Gross rent 4500/mth-----------------------------------------------Upgrade, Est repairs: 60k After reno: NOI: 59K   Gross rent: 6100------------------------------------------------Loan pmt: 2865/mth,    34k/yrCurrent Cash flow: 531/mth,  6,378/yrAfter reno Cash Flow: 2131/mth,  25,578/Yr-------------------------------------------------Added info- -Property line Joins with (growing) Community college-Tiny town-The Buildings are Currently "uglyish".- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).

I am worried that purchasing the property and then transferring it to the LLC will trigger a due on sale clause that could cause issues after purchasing the property. 

Short of that, he transferred the property in violation of the promissory not so, the lender could accelerate the loan and declare the full balance due and payable.If your grandfather and notary didn't sign the quitclaim, you don't have one so, umm...have them sign it and record it.

Everyone's waiting for interest rates to fall but not sure if that's going to happen now.

for instance even though San Diego has had amazing overall appreciation over the last half century, it was still the #1 in appreciation the past 12 months at a rate twice that of the national average. 

Would be hard for me to believe that a manager can fail to provide leases in a situation where management is being transferred to somebody else.

.- Neighborhood ~ C- but a C- area here doesn't mean too much, smallish town ~ only about 50k peoplePurchase Price: $660,000Appraised Value at Purchase: $730,000Interest Rate: 6.625% - 30 year fixedDown Payment: 10% / $66,000Cost to Make Rent Ready: $14,000P&I - $3803 T&I - $898Total PITI - $4701/moCapEx, Vacancy, Maintenance - $1099/moTotal Monthly Costs - $5800/moCurrent Rents - $3800 (3 units)Fair Rents ~ $5000 but will likely only charge ~ $4500 to start.

Feels like this buyer pool dried up recently with the interest rates rising?