If you are Joint Tenants (JC), and one of you passes away, the remaining title holder typically "inherits" the rest of the property.

However, if you change your insurance to cover your place as an STR, your mortgage holder will be notified and that could cause a problem with your loan if you did not disclose the intention of your purchase (to rent it out). 

If there is ever an expectation to sell a note by the holder there can be advantages of two separate deeds in some case, but not usually.But, that entire arrangement can be accomplished under one note and deed of trust.

My question to you is this:Are there any ramifications/consequences with the mortgage holder (triggering Due on Sale clause, etc) of transferring the home to an LLC that I'm the 100% owner of?

Tom when you give the property back to a bank that is a "deed in liue" of foreclosure.You basically just sign title over to them.In that case though usually there is only a first mortgage.The lender will run a title search and discover any junior liens attached to the property along with the second mortgage already mentioned.The second and other lien holders will want more than the first lender is willing to take for a loss in the deal.So usually the first lender with additional liens attached will just foreclose to wipe the juniors out.Foreclosure laws vary by state and some are judicial (court) and non-judicial (no court).If it took the first lender a very long time to foreclose and the market was declining the first might play ball and offer more to the junior lenders in a short sale to pay them off.Every property file is evaluated by loss mitigation on a case by case basis.Definitely if the property needs work and you are thinking of a short sale do not put a single penny into that property.Your friend will never get it back.Has your friend been given the divorce decree order yet??

In most instances the junior or senior lien holder will buy the house at auction to try and preserve their investment in the property.

Dual citizenship allows the citizenship holder full rights of possession of Philippine real estate property. * Philippine's Embraces Dual Citizenship [September 19, 2003]In a landmark bill, the Philippine Government enacted Citizenship Retention and Reacquisition Act.

Plus certain banks for example were notorious for never paying the back taxes or going after an overage for some reason, but junior lien holders though their lien was worthless because of the liens in front of them and didn't bother, That is the ones that even knew an overage was possible.

Philadelphia's sheriff department is notorious for not sending out the proper notice to all lien holders, so the title may not legally clear if this was the case on your property.I know some wholesalers go to the Tax Sheriff Sale and bid on property.

That being said, I still don't think flipping 1 or 2 properties a year as an investment would automatically make the account holder subject to UBIT.