I'm starting to get cold feet about pulling the trigger this type of investing.

Lots of storage options - closets, dry basement, unused garage, storage shed.

I have heard that money lending tends to dry up during the recession, but I also assume that properties would be cheaper.

To sell and then redeploy, you are triggering a lot of costs which you would not have if you stayed the course.

The well certainly isn’t dry up here!

I had been watching it going into foreclosure however we were not quite ready to pull the trigger yet and then as soon as we were we drove by for one last look and there was a sign in the yard so we purchased it through MLS.

Transferring a property into an LLC after refinancing it might trigger the Due on Sale Clause; however, transferring a property into a Land Trust is an excluded transfer from that clause thanks to the St Germain Act.

Transferring a property into an LLC after purchasing it might trigger the Due on Sale Clause; however, transferring a property into a Land Trust is an excluded transfer from that clause thanks to the St Germain Act.

This is a public record and you can trigger the "due on sale" clause when you transfer ownership. 

Putting it on the underside of the floor joists is possible, but not until everything is dried and the mold is taken care of where it won't continue to grow.