From my own research and consultations with lawyers, accountants and cross-border specialist the LLC entity is not the recommended choice for a Canadian citizen.  

Hi dear BP'sI am in a minor predicament with an investor deal I came across, 3BR 1BA , built 1947, 1204sf of a house, with tenant which have not paid for 2 years (A Trust sale transaction), located north of the 105 and west of the 110I never went through eviction process before, and probably will need to do it if I choose to go forward with the deal.I believe there is a family resides there at the moment, with a senior citizen as well.Any input about eviction would help me make my decision .Thank you

Thought it might be a nice interesting topic to discuss:http://homes.yahoo.com/blogs/spaces/great-senior-sell-off-could-cause-next-housing-063235194.html

I would also think that you'd get stuck insuring through Citizen's for anything on the water and that would hurt the cash flow, even if the condo dues covers part of the insurance.

In this next thread, you will find links to contributions from @Rich Weese on his TX foreclosure auction buying.http://www.biggerpockets.com/forums/41/topics/6897...In general, if the junior liens are given proper notice of the foreclosure that the senior lien is auctioning, then the junior lien is extinguished; the lien being extinguished simply means the the debt can no longer be attached to the real estate - in no way does that eliminate the borrower's obligation to repay the remaining debt owed to the junior lender.  

You can also use the Ellis Act to go out of business but would need to pay each unit an $8300 to $19,950 (depending on # of bedrooms, if tenant is a senior or disabled) relocation fee and cannot rent the units for another 5 years, I believe.

Should i put the house only under my name since they are not US Citizens neither live in the US?

I wonder if trying to find a senior (65+) is a better route?  

Also, try calling the police as a concerned citizen about broken equipment stored outside.  

Originally posted by Account Closed:Account Closed.Like Ken mentioned, those specifics would help in determining any lending scenario.Additional information that would help is to know what residency you have in the US if any because if you do have tax returns, certain visa's or permanent residency, then you may be eligible for standard conventional financing like any other borrower or citizen in the us.The less paperwork you have in The US the more you'll be siding with foreign national(FN) lending programs which start at 30-50% down payment depending on your level of consideration as a FN borrower.