We are new to this, so starting from scratch.

The sellers agent said "Any encumbrance on the title at this point is the sellers business and will be handled buy us prior to closing.

This is what we have been doing.

Or maybe you have other solutions for this?

It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

This is my second duplex and I do not have experience renting to someone in this situation.

Is anyone doing this?

I’m just starting out with real estate investing and I’m excited to meet like minded people and people who can help me through the process. 

Hope that helps!

What does it mean when I see a mortgage and debt balance and public record balance compared to estimated value??????