The risk is probably there, so I can really say is that in my personal experience this has never been an issue, BUT I am also in that group of paying on time every single month with perfect credit so that might be the difference.The other thing you could do is put it in a land trust and then make the beneficial interest the LLC.

Evictions take 6 months in a perfect world, and tenants know this. 

I see a lot of assumptions / misconceptions about my personal situation in the responses so I’ll try to clarify a few — obviously language isn’t perfect, certainly my choice of wording isn’t, and I also didn’t want to write a full dissertation about my personal background [nor make you read it] before starting.

Obviously we'll all have less than perfect bookings from time to time, but you need to tighten up so that bad guests are rare.....

@Sam McCormackWhat you are looking for is what's commonly called buying 'subject to'It is perfectly legal you can find on the HUD statement the line number 203 if I'm a mistaken it states 'loans taken subject to'We have a program, where we can enable sellers to get out of over leveraged properties.

@Jeffrey Rollon let me know whens the next one beer and real eatate the perfect combo

This might be the perfect avenue for you if you don't have/want to approach friends and family.These loans are based on personal income, credit score, DTI, etc for the amount you qualify for, since there are unsecured (meaning no collateral).

and dropped our expectation to find the near perfect one for substantially less.

Everyone posts pictures of their new car, of their new home, their perfect family or adventurous vacation.

Hi Emily, I'll DM you, we're a perfect fit.