Proper management infrastructure involves pay roll personnel on-site, with strategy/accounting/reporting/legal off-site. 

And, yes, you can do a double close - if it's legal in your state - and bake it in. 

You will probably have some closing costs associated with the transfer and legal fees as well.

proper notice to enter is usually defined by the state as 24 hours notice. some states require 48. that is your starting point. that being said, coming through with a high amount of showings can be considered as disrupting the tenants right to peaceful enjoyment of their home. if you plan on coming through with one or two, you should be ok (legally) to give tenant prior written notice and come in regardless of their objections. if you think it may take multiple showings, you are likely better off to work with the tenant to set up a block of time for an open house. in extreme situations, you can consider offering a gift card to a local restaurant or movie theater to get them out. the tricky part is striking a balance between what is legal, entering with proper notice, and what is fair and reasonable, since the tenant can purposely leave the house an extreme mess to make it harder to re-rent, badmouth you to potential renters, and may even try to refuse entry. how you approach will depend on your relationship with tenant.

Originally posted by @Reaz Alli:@Steve VaughanI believe both our names are on the title  I would consult a legal pro first, but my thinking as a TIC would be no, I'm not re-signing for the debt.

What's the cleanest way to go about this without breaking any legal requirements?

CA OR and WA have very specific laws as it relates to what you can and cannot do with a homeowner in foreclosure you should read those before you do anything.. they have severe penalties for violators..Once you figure what you can and cannot do legally.1. as Wayne above state Credit is trashed. your bringing no value there In West coast Purchase Money Deed of trust foreclosure  credit is trashed and bank has no right for a deficiency judgement. 2. 

But things get more complicated when a lot of these people renting out their basements illegally are also not paying taxes on the income... and then theres Insurance & liabilIty Issues as well. anyways, I personally am trying to find a way to do things as legally as possible.

I have an acre lot that needs to have drainage and grading plans drawn up before I can start designing the house.

I'm certainly not an attorney, so not up to speed on all things legal, but in my small brain way of thinking, if HELOC loans are not allowed on Investment Properties in Texas (by Texas Law), I find it difficult to believe PenFed is doing HELOC loans in Texas on Investment Properties.