LLC#2 uses the funds to purchase a property a complete the 1031 exchange.An qualified intermediary has been involved and all is documented properly.Here's where it gets confusing.When LLC#1 sold the property it had a deferred gain of $1,000,000 of the sale of a property for $2,000,000.LLC#1 did not send the whole $1,000,000 to LLC#2.

-They do post purchase agreement docs, addendums, and any other related documents on the auction page, at the bottom of each listing.

I really appreciated hearing the details on documenting a borrower's "ability to repay" and how debt-to-income ratios aren't always a reflection of that.

Get documentation when you have settled a debt.

In some cases I will leverage the early termination fee (knock it down) if the tenant cleans up well and is helpful when I need to show the property.So for your situation, unless you have written documentation that last months rent and security deposit will be forfeited as a result of breaking the lease early I don't think you have a leg to stand on.I would be immediately marketing the property to get it rerented.

There was a decent return as college kids will pay up to a $1000 a room (double occupancy so $500 each)That being said I lived in two very different houses in college one was a huge house but rundown and the landlord didnt care so we made more holes in the walls and ceilings and didnt take care of it. on the other hand i lived in a well maintained yet old house with a 20 page lease documenting charges for every little thing if we didnt care for it and trust me we did.IMO if you upgrade and make a house nice you will find the nicer quieter kids who want clean living and will maintain your property...

I don't have documentation about all the improvements made to the house so I'd have to estimate that.

You're going to sign documents stating you're going to move in.

Also you need a document between you and the buyer to show that the contract has been assigned and that the buyer takes the responsiblity.

If you are going to buy an existing note (i.e. stepping into the shoes of a prior lender) you'll have to research the property, the borrower, the HML, and the associated documents.