Any recommendations on next steps if we were seeking to exit the relationship?

I agree that many transactions shouldn't be done simply because you can.However, out of curiosity, if you had the opportunity to buy a $hit property with golden financing & then immediately sell the $hit property but keep the golden financing & transfer the financing to a great property would you consider it?

The short answer is Yes.

@Dan Dares TMYou can use your familyMember but they will need to be a part of the deal and the bank will most likely want them to personally guarantee the loan.

Purchase price: $120,000 Cash invested: $40,000 Sale price: $215,000 Probate deal.Beautiful 4bd, 4ba acquired from a family looking to sell the home after receiving through an estate.

We realized that we needed to both be focused on our real estate business full time to take it to the next level.The hard work doesn't end after today, but at least now it's hard work on our own business.

Actually here in Texas we can separate the surface rights from the minerals. 

We have a buyer for the property and now it has been discovered that the corporation paperwork was submitted to the state as a charitable contribution even though we are listed as a not for profit organization and have been listed this way for well over 40 years.

*This post does not create a CPA-Client relationship.

@Matthew Kwan, he is asking why the underwriters will not allow him to use the proposed rental income from the subject property at time of purchase.