The trick is recognizing the bank will not extend them any further on the owners outstanding unpaid balance.  

Some of the benefits to you include-Avoid foreclosure; don't ruin your credit score or ability to get a loan in the futureI will pay off the outstanding loan balanceI will pay you a lump sum of cashYou can choose to remain in your home and pay market rentAll house repairs and maintenance will be taken care of for youI will come by on Wednesday evening at 7pm to discuss the details of this letter with you. 

I know I have gained a valuable partner, someone who's turned out to be an outstanding negotiator, who's a fast learner, who is creative, and most importantly he takes action.Having a partner like Mike, who is very good actually getting things done, has been a tremendous value to me.

You made a very wise choice by joining this outstanding community.

Transfer of property from your partner individually to the LLC will almost certainly trigger the due on sale clause for the mortgage and could result in an acceleration of the outstanding balance owed.

He has many outstanding achievements to his credit.

Hi @Robert Fleets , Welcome to BP!

Its things like I just mentioned that show up in your mailbox as expensive change orders that will suck the profit, and more, out of your project.One bit of advice to anyone purchasing a property for any reason: go to the jurisdiction's Building Office, or online if you can, and find out if there are any outstanding issues with the property.

Meet with the tenant and hit the reset button where you waive the 250 outstanding but the tenant signs an affidavit saying the water problem has been fixed by the landlord and tenant is fully responsible for future water bills.You do not want the tenant to keep coming back to this again and again as an excuse.

@Matt Hoyt Can you comment on who was your lender for non recourse and what was the outstanding mortgage balance?