But even so, if I am them, I would be all over the provider so I have some answers for my guests.

Based on the $70K and the $125K loan, you are into this for $195K.

Usually LLC is more for loan purposes than liability purposes. 

The loan currently has a modification, and at this point they’re interested in simply returning the home to the lender.

Additionally, he mentioned that a lawyer would be involved in the transaction, which provides some reassurance.

These types of properties can provide strong rental returns without a massive upfront investment or needing tons of experience.If she’s curious to learn more or wants to explore some easy first steps, feel free to connect!

Otherwise, bite the bullet and pay the real players in this area for what they provide (Buildium, Appfolio, RentManager, etc).

All money spend after the sale of the property should be posted to Profit & Loss.And yes on the day of the sale you transfer the pruchase price, loan cost, settlement cost, imporvements to Profit & Loss. 

And advice is appreciated.Hi James,If you no longer reside on the property, it might qualify for a ground-up construction private loan for non- owner occupied properties. 

Like I say, I am a newbie to commercial any feedback, advise or direction you could provide would be great,Thank,