You can have the utilities turned on, but you are responsible for all damages and the utility bill.

Some investors are effectively contractors and can accurately estimate the work.If you lack the skills and can not afford large surprises then always expect to pay for an inspection.

You are new and you need to focus on the fine details if you want to understand.You are not transferring to the LLC in the weak sense of the phrase.You want to effectively sell and the LLC buy (transfer of title).

However, I can help to limit the damage done to your credit, but in order to do that I'm going to fax you a form to sign a purchase agreement which would sell the house to me for a dollar, then a form to release info so I can talk to the bank.

Broker AND buyer gets pissed are going to sue us for expenses and damages (loss of wages).

Believe me, whether they trash the house or not, all of those nice amenities you've added with be damaged?

Operating expenses include taxes, insurance, management, maintenance, utillities paid by the owner (including during vacancies), advertising, entity maintenance, legal fees, evictions, court costs, capital expenses (not technically an operating expense), damage done by tenants above the deposit, lawsuits, office supplies, etc, etc, etc.Mike

First of all, I assume that the landlord, with characteristic incompetence, is not going to send a written itemized list of damages within 30 days, as required by PA state law.

Hence you do have the ability to protect your position if it makes economic sense.There is no DOS issues if you effectively assume the 1st after foreclosing.

How will this effect investors starting out trying to get a mortgage for the first time?