It has to do with what some banks call your global financial assessment.

It is an excluded transfer that allows you to both have the beneficial financing through your personal name without the lender being able to recall the loan through the DOS clause while still offering you the full liability protection of the LLC.Sounds like you are pretty new to all of this, so I would really recommend sitting down with an experienced attorney who can assess you situation and give you some recommendations.

In either case, I intend to acquire two more properties in the second 12 months, then stop and consolidate management and financing, assessing whether the next move will be more small-to-mid-size rentals or a single large building.I'm pleased, so far, with my decision to target student rentals in Plymouth, but we'll see what more experience has to say.

Are there additional means to take to assess the property condition before purchasing?

I have a construction background so I am knowledgeable in assessing what repairs need to be done and approx. cost. 

But, depending on the age of the building he could also be hit with an Hoa assessment for a new roof, painting the outside or parking lot maintenance.

Account ClosedBig reward = high ratio of (tax + penalties + interest assessed) divided by (IRS payroll and other costs).There is not an exact number.It sounds like you need to find a new CPA.

The town’s property card assesses the property at $130,100 and lists the sale price at $132,525, five years ago.

Whats luring me in this deal is the assessed value, it is a lot higher than the listed price.. is this information irrelevant? 

We used to use the simple 2 pages purchase / assignment contracts; However, when we talked to one of the RE Attorney in town, they said the purchase contract is not comprehensive enough and recommended us to use the TREC contract, which is WAY too complicated for us and probably confused and scared the seller also.