Plus you still protect yourself from ridiculously high bills and your tenants will remain conscious of their usage to avoid having to come out of pocket.

Remaining loan balance is $108K for each loan, or $216,000 total, and they have approx. 21 years left.

It's a short way of describing a purchase contract clause: "Purchase of real property is subject to the existing liens and encumbrances remaining in place."

Can I buy this property with 20% down from the IRA and have a mortgage on the remaining 80% or does it have to be paid in full by the IRA>

Regards,NateDisclosure: I have no relationship with them, just a satisfied customer.

Thats what I always do.Im working with a lender now for a property in Indy and Im satisfied with it.  

If the numbers work after than and the 4-plex itself checks out, I would be seeking first rights on the purchase of the remaining two buildings and parcel(s) as part of the deal.

Lawrence was nice where she lived.I have thought about - not that seriously - getting something over in Indy so I could be closer to my nephews and renting out the remaining rooms.  

It is always very satisfying to know that my 2 cents helped somebody or just made them smile.I try to reciprocate as much as I can by voting on posts that I find as helpful, informative, those that give me a chuckle and others that are just laugh out loud funny whenever I find them....whether I know the poster or not and whether they have ever voted for one of my posts or not.Having said that, it seems rather difficult to actually find the statistics on who voted for one of my posts in my profile data since I do not usually save the email notification.I have not found a way to find out who I voted for or what post or thread it was in unless I really spend some time trying to backtrack to find out that info.Is there a way to put these two bits of info at our fingertips within our profiles?

If there are additional mortgages/liens behind the first mtg that maybe the first won't contribute enough to make them sign off, the buyer would need toons up some extra money to satisfy them.