As new deals arise I will post.

The largest issue is the seller using the money to pay the existing mortgage (which is why I suggest using a loan servicer to ensure this is done) and the possibility of the existing lender finding out about the transfer and calling the loan due under the Due on Sale Clause. 99.9% of the time the lender doesn't call the loan due because they don't care as long as the mortgage gets paid on time and no issues arise.

Either way, we are always up for making new connections when the opportunity arises.

In the event of a lawsuit arising out of the tenancy the tenant will pay the landlord's attorney's fees as provided for by court rules, statute, or ordinance.

I just wanted to point out the issue when an unsuspecting forum reader does not get proper advice, and thinks they should just set up an LLC and hold in their own name from Canada - that is when the tax implications arise.  

I'm a rising senior and am interning for the summer, and I really want to get started on this but I have work and also a project I need to work on...

I presented her my rental agreement, which says in part:"All personal property on premises shall be and remain at tenant's sole risk, and owner shall not be liable for any damage to or loss of such personal property arising from any cause whatsoever.

If you go that route, definitely speak with an attorney about writing up the agreement, so that if/when issues arise, you have clear mediation procedures in place.

Overall, it highlights the need for good cash flowing property, reasonable reserves (for potential vacancies) and the benefits of having cash/credit when opportunities arise.

We buy our properties for cash at a discount or have the owners carry the loan if a situation like that arises.