This can become an expensive lesson to learn, so get moving on doing this in proper compliance with your local landlord-tenant laws.

Often banks have due on sale clauses in their paperwork that would be triggered by a transfer of ownership.

Not sure whether a phone call is enough to trigger that fee or not, but I won't argue with Bill's statement since it's definitely possible.

All that in addition to the challenges of zoning and building codes compliance.

Daniel,I looked at 75 to 100 houses before I pulled the trigger on my first deal.

You might tell him, that under the new SAFE Act regulations, he needs to sell his non-owner occupied property in compliance with the new law.

- if they do the work after April 22 and it is a pre-1978 structure make certain you are in compliance.

In my case, that loan's terms did not change, since I always remained in compliance with their terms.

Instead, they are just triggering ANOTHER PART of the contract that deals with this particular circumstance.

All of my Stop Losses triggered yesterday (set at 10%) and liquidated my stock holdings.I'm not a conspiracy nut but someone, somewhere, made a lot of money off this 'glitch' and I believe it was manipulation, pure and simple.As one commentator noted, this will NOT build confidence in your average retail investor, ME INCLUDED.Louis Rukeyser once noted that the best investment he ever made was his Rolls Royce, because the government couldn't tax his enjoyment of it.