It's a technicality to be sure, but legal.

Brian,Welcome to the BP community.Best of luck with your legal and real estate career!

Add that you "wish to avoid legal action".

The first mortgage has the legal right to foreclose on the property for non-payment and the buyer will probably lose the purchase price and the rights to the property.

Will really help if you have a CONTRACT with him where he has legally agreed to the liability.

I highly recommend the self help legal books from Nolo Press.

I have already began the process of looking at the legal structure of my business, creating my business "brand", and structuring a solid business plan.

Do to many missteps from my current PM ranging from leaving the front door of the property open (over night) to sending rent checks to another client the list goes on.To the point, what would be some recommended ways to give PM the boot and what steps should be taken to do so and too avoid legal ramification?

Diego, if you can, I would go see a Legal Aid attorney and see if they can help you recover your Security Deposit based on tenant/landlord law in your State.

, I'd tell the seller that his contract is binding and that you don't want to have to take legal action.