Ideally an Assignment of leases/security deposits/permits/warranties/etc. is executed at closing, along with a letter to all tenants from the old landlord advising of the ownership change and of the new payee/address for future payments.

So in an ideal world, presuming you are cash flow positive on your investment properties, there would likely be no negative consequences.  

We were in a competitive space, make sure the location you choose is the only one within a 1/2 mile radius or competition will erode your profits.If you are fortunate to purchase an ideal location keep in mind the revenues have plateaued by time you've purchase the business (if the business is more than 5yrs. old).

I would go into local banks in your area, ideally ones with less than 5 branches.

Utilities costs (Gas, Electric, Water) for the past 6 monthsThis part of your motivated seller questionnaire gives you the information with which you'll be able to decide whether the property needs a short sale, whether seller financing is an option, and how to structure a deal or an offer that can work for both you and the homeowner.You'll also need this information to properly market the house to your investment property buyers.If you're a new real estate investor, I hope you arm yourself with the information on this page to work out win-win-win solutions for your sellers, your buyers and yourself.Motivated Seller Questionnaire Red FlagsThe power of the motivated seller questionnaire is that it helps guide your interview process, and gives you a framework to make the screening as conversational as possible (In other words, it's a script, without the mechanical sounding words and phrases).It helps you in the 4 following ways: Avoid Outright deception by prospective property sellers Properly screen your inbound leads for seller motivation Helps screen out irritable, irrational, potentially psychotic people you should never, ever deal with Helps you build rapport with target ideal candidates Supplies information to help structure your dealsAvoiding Outright Deception I've had a property owner tell me "..All the house needs is less than $5,000 dollars in repairs, and it's ready..." on a house that clearly needed so much work ($35,000 to $40,000 dollars) that no buyer or agent had ever called him back.Better Motivated seller screening Being a successful real estate wholesaler is a matter of alignment.

Yes, cash flowing would be ideal, but if I can reduce my housing costs by 50-75% and don't have to concern myself with yearly rent increases while building equity, I'll be happy.

Given the limit of 10 mortgages (for 1-4 unit properties) per individual, have any of you consolidated multiple mortgages into one portfolio loan (ideally non-recourse)? 

Ideally you want a good year-round location....

The criminal can find another LL ideally with SFR to provide their housing. 

So maybe not ideal for large Assoc. or Commercial., but maybe good for just residential?