We once had a client who assumed that their replacement property had to cost $300,000 or more, only to discover through the exchange agent that they actually had to spend over $500,000.

I’ve actually been looking into reporting to credit agencies just because it seems like a win win for me and the tenants, it encourages them to pay so they don’t hurt their credit and helps their credit when they do pay.

You would realsitically to do that need to become a solo broker to do so....however, then you need to sign up for your own e&o insurance policy and your Bright MLS dues would rise (you get a discount for being a Realtor), so in reality you would not actually save any money.

I’m actually concerned about the part wheee you took pictures of sleeping people and confronted your guests later.

I actually contact Brightway and they have given me the most competitive quote!

This actually ended up turning into a good deal...hopefully.

Please keep in mind that all the above is what I gleaned from some classes I recently took on land trusts, and not from my having actually made such an ownership transfer.

I didn’t even have an LLC until I got to 22-units and only then because I was getting into commercial buys.I had the umbrella until then and actually for a few years after.  

Don't submit the bank statements to underwriting unless you actually need them to close the deal however, as it can cause additional steps in the process for you and your client (if an underwriter sees money moving around, it can cause you to have to paper-trail the funds back to their source, which often isn't a lot of fun).If you haven't completed a loan application, start there.   

Actually went today and talked with a loan officer friend of mine who does helocs, I can pull 80k for 700 a month with a 2500$ origination fee.