Met with the new tenant around 10 am to collect security deposit and first month's rent, and sign the lease.

If you can't find a lender to take the package in that manner (I think you could) then you can go through that minor-sub process. :)

For co signers, I require social security number, employer and annual income.

Setting aside the security/liability issues, you can now put on Smartkey, which makes re-keying even easier.

For those looking to learn more about our new securities environment this is an excellent read:For those looking to learn more about our new securities environment this is an excellent read:The article does a great job of talking through the constraints for issuers and the problems with the current legislation from a state securities standpoint.

If you're talking about a hard money lender (who may prefer to be called private money lender), they will lend the money into the LLC once the deal has been reviewed and approved, taking a security interest in the property (mortgage or deed of trust), and most likely a personal guarantee from at least one partner in the LLC.if you're talking about actually taking on an investor partner in a deal, then they would be a member of the LLC and how the money comes into the partnership would be negotiated up front and dealt with in the partnership agreement.

We do have the regular security deposit (average $1,300) which we feel can cover any problems we may have.

Most LO's and processors can't live up to their expected standards for package in a loan so borrowers get steered to a "easier" lender.I've done a lot of loans through Provident funding often times with little to no prior to doc conditions, but then again if I submit a loan to Provident I do the processing I can't trust my account to just anyone submissions need to be perfect or they'll cut you off.

I was able to gain valuable experience walking these properties and working with the construction team to estimate cost of rehab and see the entire process through, from rehab to actually packaging the property for sale to investors.

This is the time to gather your lease and evidence of recent payments and evidence of a security deposit, if any.