The property will rent for about $1,350 and the total of the monthly payments are about $1,000.It's clearly not a cash cow, but the equity is building rapidly because of the age of the mortgage.Has anybody done this before?

Fortunately, she has indicated that at her age, she will not need to purchase another home.I assume, I'll need to have her quit-claim the deed, put me as a beneficiary on the insurance, and give my attorney any information and authority necessary to deal with the bank in the future, should there be any problems.Has anyone done this before?

My name is Joshua, and I am a newly licensed REALTOR in Central Texas (Austin, Round Rock, Cedar Park, and all the other nearby places that are growing like crazy). 

You should look into Series-LLC and see if that's an option for you - then you don't need to worry about this question, as you can place a property in its own children Series-LLC that you can form when needed.As for distribution, you can have one or more per LLC, and that depends on multiple factors:- property class - you might not want to mix A class property with a D class property in the same LLC, due to different tenant level- cash flow - you might want to keep your cash flow cow separate from the ones that barely produce- equity - you might want to keep the one with large equity in its own LLC while you can group the ones with little equity in another LLC (let's say you have one with 50K equity in its own LLC and 3 other each with only 10K in another LLC, till their equity grows to your risk threshold when you move them out in their own LLC).- number of units (in the case of MF)- location of real estateThe investor has to decide what mix is optimal for their situation.

We also have a growing population of educated professional tenants that will target SFHs and absent landlords.

(Peterborough) as the city is growing because all the Londoners are moving here.Anyway I look forward to being more active here and getting to know the forums and the investors on it.Best wishes,Josh

If a current employer plan, you may not be able to access those funds unless you are age 59 1/2 or no longer working for them. 

If you are only using the 50% rule to calculate cash flow you will probably get into trouble.Alot of other variables come into play like age of roof, windows, HVAC, etc. 

Let me state this plainly; no reputable lender, in this day and age of NMLS licensing and the ramifications against the individual loan originator and the broker, will "work with you" to get a loan through. 

@Justin Fox yes, we can pull DP, improvements, last years reinvested CF to grow, closing costs and still cash flow $128/door.