While I was debt free.

I have never seen a DIY LLC or anything legal done correctly.

As it is right now, the only way you can legally run str's is if you live in the property.

Do not rely on it for legal advice.

Short amort on this one still has a debt service coverage ratio of 1.25 at $1100 per month and jumps to 1.82 at $1600 per month. 

This assignment after the final judgment is common where the underlying owner of the note is a trust.....it’s just paper work juggling on their side.Just remember, you’ll have 2018 taxes that you inherit (if not more), hoa debts, etc.

You then resell it.It is the same as any for-sale-by-owner and perfectly legal.What is not legal in every state is assignment - getting a property under contract and selling the contract.But wholesaling is legal everywhere.

(Self employed general contractor, income low on tax returns, but own house worth $1.2 million, no debt)Would love other opinions on this, not just our realtor’s.

If some unscrupulous STR owners get socked with a large tax bill, they may be under duress to sell the property in order to pay the debt. 

All while wasting some of the lowest interest rates in history and missing out on the time value of debt paydown, cash flow etc.