I heard a lot about sketch draw. 

It’s a loan that has to be paid back if you draw on it.

Isn't that type of high risk M.O. part of what led you to all of your publicized financial problems and subsequent bankruptcy?

Its completely vacated, so I can draw up the lease termination amendment effective today?"

@Juan TamayoIt is best to speak with an attorney to have them draw up the documentation.

Now, it's also dependent on your KNOWING a lender that can lend...but let's work under the assumption that you will eventually know the right people here.We use hard money for 3 reasons really:Closing QuicklyBuying at a % of the property ARVRolling in construction costsTheir big draw back - HIGH FEES (interest rate, etc).But there are other loan types that can roll in the rehab costs that have lower fees...but they can't close quickly.For example:  A common scenario we face as investors is that we find a "motivated" seller.  

I own a 4plex outright that was purchased for cash and subsequently deeded into an LLC on advisement from my attorney.

Instead of prorating rent and charging a higher rate in subsequent months, Owner takes the totalsum of Rent and divides it into equal installments.So that's

Subsequent to this, in 7/2016, a foreclosure is initiated against the original husband and wife, but the suit fails to name the current title holder (to whom MERS assigned the winning bid at the original sale). 

Subsequent deals have been sourced through a very good agent I connected with later.