In that case, you have the flexibility of dropping back to the payments of a 30 while still tracking towards being free & clear by year 15.

What I do like about hard money lenders is they only care if the analysis numbers are good.This is a 4 Unit Multi Family Property and the tenants just have signed a 1 year lease.I want to submit and offer of $185k, the price has been dropping on this property.  

They never drop the reserve price, only the opening bid to attract bidders who think they might get a good deal.

Two ways to drop PMI:Call the loan servicer and drop it without otherwise touching the mortgage. 

I have a list of some local CPAs as well as attorneys that have real estate listed as a specialty, along with every other industry on the drop down menu of their website. 

Lou,My numbers are below, and come with the following disclaimers:Ignore returns % (They aren't programmed correctly)30 yr am and 5% (might be long & light)I forced 15% of and on my investment as a return (I usually do 10% each)8% Management (I dropped this from my usual 10%)7% Vacancy (I dropped this from my usual 10%)7% Reserves (I dropped this from my usual 10%)The Management, Vacancy and Reserves are ON TOP of the seller's numbers, which include those items in their expenses.With my model, I look for positive cash flow after it's all said and done... and this property does that, albeit at slightly lower Return/M/V/R than I like... but it looks like it could be a winner if the numbers hold.

I'm currently looking at a duplex on the market price dropped to $72,900 from $79,900.

If the LLC is indeed the taxpayer and internal changes in membership do not affect the 1031 status of the property, then I suppose that the "swap 'til you drop" tactic does not apply.  

@Lucas CarlI think you'd be better off dropping by a title company to help you make sure you're going after the right person.  

But it will be too late, they'll be priced out and be forced to pay ever-increasing rents until the market drops again.