Sam Miller , the LLC is important when you have partners because you need to separate yourself, your partner, and the property.The alternative to owning with partners within an LLC is for you both to go on title as tenants in common.

Based on that info, we might be able to suggest a better alternative.

Also if after you search the site for a filing name you can apply for a name but there is no place on the form to put alternate names if yours is taken or indistinguishable from another LLC.

Obviously I know they would rather the owner sell the house out right, but if there isn't enough equity for them to find a buyer and their only other alternative is to continue to miss payments, get foreclosed on and cost the bank tens of thousands of dollars... wouldn't letting someone like me take over the mortgage be a good solution for the bank?

Alternatively, and also more inconveniently...would anyone recommend deferring these repairs until after the tenant takes possession?

I've never used it before, but it looks like a pretty great alternative to the 4x4 tiles.

Alternatively, you can query it yourself from your Central Appraisal District or through MLS.

Bill Gulley has proposed some alternative ways of doing this sort of thing as well - maybe he'll chime in since I mentioned his name here.

Alternatively you can do a quick title search on the property and reverse amortize the loan and see what other liens there may be to have an idea of how much equity is built into the property.

Both tenants actually had some electricity - the lines connected to every alternate circuit breaker were functioning.