Depending on banks willingness to finance you may want to offer seller financing and hold the mortgage as your seller did when you bought.

I also, can continue the eviction if the bank doesn't carry it out.4 bed 3 bath 2400 sqft with over an acre of landpurchase around $205k  ARV of $360-400k with an estimated reno cost of $50k The Unknown:for being an REO Occupied property, there are no interior pictures so I was only able to see the one picture of the exterior of the home (luckily enough I live a mere 15 minutes away and can check the exterior and neighborhood better)Connecticut has a crumbling foundation issue with many homes (crossing my fingers but also researched a little bit to make myself feel better)How much reno will be needed? 

If I pay for the property in whole with cash, renovate it and rent it out can I still refinance that property with the bank?

In order to get this second loan the bank will want some type documentation showing a link between him and I.

I started my LLC, got a bank account set up and put some money in it. 

Bank does not mind sit on it waiting for appreciation. 

Hi All, I picked up a rental property about a month ago and funds were to be distributed into my bank account August 31st / September 1st from my PM company however I have not received them yet.Just wanted to get opinions on this situation;  and if this has happened to you,, recommendations on how I should go about making sure its taken care of / dealt with?

The bank either hasn't yet realized that someone else already owns the property or they're going through the foreclosure process for a procedural reason.

Appraisal: One at 320k and the other one 466k There are potentially 3 people involved in the deal:1- The person who found the deal2- My friend who will buy, sell and take a mortgage on the house3- Me who will put the down payment of 15% ($60,000) and the first six mortgage paymentsHere is the deal: The 2 apartments are coming from a foreclosure, being sold by the bank.

It's a semi-large bank and working with a local credit union seems more appealing (plus the added benefit of proving him completely wrong).