If he's whole saleing, I'm guessing he actually has no money and simply wants to lock the property up while looking for a real buyer.

The only expense would've been taking a little bit longer to become self-sufficient, but I certainly would suggest that to all the young investor starting out now.I feel that I have done everything I can to be prepared financially for the ups and downs in the economy and if you research previous posts and threads that I have entered into you will understand my thought process and hopefully the methods to my madness!

.@ Anthony, after a bit of digging, I found the square app can have manually entered credit card numbers, but they charge a higher rate.

A: enter the property, re-key and get ready to rent again.

I'm with Brian... given those cash flows simply go with a PM... maybe even pay them a premium.I understand your philosophy of amount of work per dollar earned... but instead of dropping the property completely to reduce the workload, why not outsource some of that work at the sacrifice of some of the money???

I am trying to figure out a way to have a mortgage on a property instead of having it free in clear with renters so that I can simply collect debt payments on some of my portfolio.

I find that it's much easier dealing with tenants if you act like you are simply a partner who owns the house.

I'm using a credit union for mine...Bought a place January 4th subject to the hard money loan he had in place... am in the process of refinancing it with a local credit union... it appears *fingers crossed* they are going to allow me to do a cash out refinance based on appraisal value (75%) at 5.5% for 10/30.Easiest recommendation is simply to wear out your phone dialing...

In the event there is massive deflation he would simply walk away from the loans and/or offer to deed the properties back to the owners.

If through a listing broker it will depend on what the listing broker entered on the MLS and MLS rules.In Georgia for instance on FMLS if as a broker you screw up and enter commission wrong,mistake things etc. you can be on the hook for the commission or lose access to the MLS.MLS's are sometimes controlled by REALTOR associations and other times are private entities that are non-profits or for-profit organizations.Also the brokers/agents involved it would matter if they were REALTORS or not.Generally your state's real estate commission does not handle commission disputes.They only care about license laws.The agent can argue procuring cause with the other agent but it should not stop your sale.Simply you would close and get your proceeds and the commission in question would be froze until a solution was given and signed in writing or a court order.There are so many variables to this and it is state specific.Procuring cause is a chain of events leading up to a sale of a property.If the chain is broken generally the broker/agents is not due a commission.The moral of the whole story is the buyers agent needs to learn how to protect themselves in the future.I am not going to court to get my agents commission when I only charge them a 300 flat fee as a broker.No legal advice