After you transfer the property to the LLC, give the tenant a short letter that explains the transfer of ownership and that all other terms of the lease remain in effect.

In this example bank gives you 80% of the purchase price, seller "lends" you 10% of the purchase price, and you have to come up with the remaining 10% at closing.

Sometimes the best deals you make, are the ones you don't, and I can guarantee you this, when you start rationalizing, or getting emotionally tied to a property, you're heading downhill from that point forward.Not enough info ($$$$$ numbers) to really even understand the true/complete picture here.

Also my plan is for my GF to move in and pay around 1.1K and I'll pay the remainder around 1-1.4K with the option to rent out the remaining bedroom in the upstairs for another 1K.PP: $1MMortgage: 4k4 Beds 2.75 baths 1900 SQ FT Lot size 8.3K SQ FTTenants paying 1.7K currently downstairs. 

I don't believe Ohio has any law regarding prepaid rent.However, if a tenant terminates a lease early, you are obligated to try and find a replacement tenant as quickly as possible and then release the first tenant from any remaining obligation.

The house was purchased for 203k, our remaining mortgage is 191k, and the current market estimate (although not an official appraisal) is 276k.Our goal is to accumulate properties through the BRRRR method, and as I see it, we have two avenues through which to do this:I can simply use the money in my account to BRRRR.I can pay off my rental property in Beaumont, TX, and utilize a HELOC to BRRRR.I know that most people will say that they never want to pay off a house due to the tenant paying it off for you, and the difference in percentage returns that you get based off of appreciation, tenant payoff, etc.

Remember your taxes and insurance will remain the exact same. 

At the same time, you can assign your lease to someone else in Chicago pretty easily so you are not tied down to your lease really.

This is effectively tying up the ENTIRE amount, not just the 12% difference between what’s allowed.

The fact remains its a total waste of money.