What I mean is, if you start with lender A, and get an FHA appraisal for the HECM, then decide to change lenders to lender B, you'd have to arrange a case transfer.  

.* The property is not sold and title is not transferred until the tenant exercises the option to buy.

We have some friends that are being transferred to the Nashville area because of his military job.  

@Brandon Halley Typically if you have 100% ownership of the business it was purchased under and then are transferring title to your personal name, you don't need to season for another 6 months.

The seller discounted the price of house a bit but asked us to transfer the lease to us (they wouldn't take it with them).

Although I recently spent a day cleaning up a year and a half worth of big dog poop mixed with cigarette butts in a backyard, at this point in my career my time is better spent coordinating workers and making the big money decisions.

However, my lawyer says there's a possibility of lingering inheritance tax since the property was transferred to a son in 2014 who then never paid the taxes.  

A question is what kind of reactions from the tenant when I inform my intention to transfer their home to an LLC?  

You can just have the title transferred to your name.

Transferwise only takes a very small fee to conduct the transfers and give you the actual mid market rate.