You see, there’s nothing worse for an attorney taking on a contingency case, fronting all the legal expenses and investing their time to win a case and obtain a court judgment – then NOT be able to collect on the judgment.So, astute attorneys will research the available assets and insurance before accepting a case on contingency.

Court gave judgement in favor of the second mortgage bank allowing them to foreclose.

Have valid reasoning for the restriction and apply it evenly to anyone who applies, so it holds up in court. 

Thanks in advanceSamAssuming you're setting up a bank account for the LLC I'd proceed as follows:Inform your tenants that an LLC now owns the property. 

Here's what we do (copied from our website):Screening ApplicantsPoor screening often results in lost rents, legal & court costs and costly damages.Screening of applicants includes the following:Full credit/eviction/criminal checks are done, instead of score-driven reportsVerification of rental history includes validation of actual property owner to avoid fraudVerification of stability of income & employment via YTD paystubs & W-2(s) (analyzed to confirm not fakes)Income is calculated 3 ways to spot stability anomalies: pay period, YTD average and YTD + W-2 average.Debt-to-income analysis (more accurate than traditional 3x rent requirement)Bank statement to see if NSF issues, if deposits support income, prove MoveIn Funds, also analyzed for unusual transactions.Pet screeningHolding Fee required from approved applicants to make sure they are serious, before your property is marked pending.

Hey gang, just curious what industry standard is or your experience for a PM company sending rent proceed funds? 

Hi All! I have a quick question. Lets say I bought my building for $300,000 and want to sell for $600,000. My gain is obviously $300,000. However, to calculate my net gain, do I minus my down payment and closing costs...

Hey Chris, Just an update for you and anyone else who comes across this thread in the next 9 years: My plan on the loophole on the hazard abatement might have worked but was risky and I don't think would have held up in court.

I was wondering if there was anyone on this feed experienced with Canadian permits and documentation that are required to proceed with getting a construction permit.

But that could also drive out a lot of other little guys which makes for an opportunity.If you are willing to do the really hard work of driving for dollars, going door-to-door, digging through court records (like probate), and looking for deals that technology will not turn up, you could be the winner in the end.