You can't actually pay it off directly because they've been securitized, and the people who invested in those securities did so because of the specific certainty of the payment schedule.What you do in a defeasance is use the proceeds of the sale or the funds from your new lender to purchase treasury bonds that are packaged to make the exact payment amounts and timings on the remaining term of the loan, and then assign those bonds to your old lender.

Its been a wild ride though doing all this through massive inflation and supply chain issue and Covid..  

So each option has its specific pros and cons but since I am still extremely new and still learning I can't quite decide which option is best.

Hey Ricky,I don't invest in Ontario so I can't comment on the specific local markets BUT, there will not be a lot of opportunities to buy distressed properties in Canada.

Using an unexpected repair as justification for not caring about cashflow as much as appreciation doesn't really address the issue, especially when appreciation also operates on the idea that the property's condition doesn't decline relative to comps.From what I understand about REI and cashflow, cashflow should cover not only PITI, but maintenance, repair reserves, prop management, etc.

(Not factoring any issues)  Is this a bad deal?

You typically want an LLC where the property is because it's a state specific device so you want it to apply to the asset you're trying to protect. 

Looking forward to get more familiar with the platform 

They won't fix my issue nor respond.

I have heard mixed reviews on East Cleveland and heard the tenants is an issue but I'm specifically looking to rent to s8 only for the guaranteed rent.