If this is the case, the corporation was never wound up (assets marshaled and distributed to the shareholders).

Additionally, if you several properties and the loan premium is $80/month it isn't too bad distributed amongst the properties. 

Once this passes, multifamily will look different, but still will be one of the best and safest investments long term.Right now prudent sponsors are keeping cash liquid, not doing distributions, no paying themselves and are preparing for rough waters.

Having said that, when dealing with customers or sub contractors that I have a relationship with, these distributions are unnecessary.  

If possible, I would get a cashier's check from the current owner for the funds, AND, as well as any documentation of the funds that were distributed to him/her.

However, that money is taxed once distributed.- Equity in my primary is 63%. 

I recently opened a business line of credit that I will collaborate with hard money to distribute across a few deals. 

@Steven Brown, while it would be fair to take the average of the market derived GRMs, it would be more accurate to calculate a value based on where the subject's GRM should fall within that range.

Waterfall Distribution MethodA waterfall distribution method refers to where cash flows first.

The tenant's rights are derivative of yours, so unless there's some quirk in Georgia law giving tenants greater rights than owners, he can't do anything you can't