Only attorneys and RE agents can do this.Double closings are very , well I have seen almost fights in lobby's of closing companies where this happens.Can you imagine that your mom was behind in her payments and a wholesaler grabbed her $125,000 equity and sold it and the wholesaler made $25,000 and someone else bought the house and have almost $100,000 equity?

This is officially my first post.  

Which is not a bad thing - yes, you end up paying taxes, but you are also officially "profitable" if you go to refinance properties, get a portfolio loan, or just use your cash flow as a W2 substitute.

@D Phelps I have the primary and 1 additional unit approved and officially licensed (thankfully held off in purchasing 3rd).

I have brought up a few times in conversation that he needs to get rid of the thing but nothing formal or official.

You only get one official one but I've heard of Credit Unions that have other similar products. 

In my state, for example (TN), I have to store property for 30 days, and can relist as soon as I can officially take control of the property which depends on the situation.

Most elected officials seem to be comfortable picking away rights that landlords enjoy. 

I just recently started keeping track so I have no official record.

This building was my first official project so I learned lots about working with contractors, construction, what things cost and how to manage tenants.