All 3 tenants signed the lease and I had all 3 of their parents co-sign as well.  

As I realize the answer may depend on the State of the property, I am wondering if the 1st lien on a property is given to the 1st mortgage recorded, or the oldest mortgage document execution.Basically if I have 2 mortgages on my property from lender A and lender B, regardless of the amount.A is signed on February 15B signed on March 15,however B is recorded right away on March 18th and A is recorded on March 30th.Who has 1st lien position on the property in the court of law?

Purchase Price $35KARV/COMPs $85KRepairs $23,750 (reimbursement based after each draw/inspection)HML Loan $49,937.50DWN PMT $8,812.50Lender fee $3500Processing fee $500Closing Costs - not yet ascertained ~ $2500 The initial numbers I did had this as a home run, but now not so sure and the contract has been signed. 

With lack of guidance and inherent truths about roadblocks and pitfalls, it may be fair to say that your path might be more so intertwined and twisted,Unmarked roads, no street signs, and U-turns are in your future. 

The reason being is that one of the option for reducing taxes on active income (such as flipping) is by utilizing an S election...which is an election made on an LLC. 

Legally they cannot take the check out of escrow until 30 days after the lease or until tenants sign the deposit over to landlords. 

I'm told there is "something in the mail" I have to sign for and have not received it yet. 

Its a standard document everyone signs.

Have tenants sign additional clause and you are golden.

And, I should be able to be selective with tenants.