As I've mentioned in a prior post, I've become unemployed in my industry of 17 years (banking - mostly in marketing analytics, market strategy and operations strategy - analyzing where to place new and close offices, etc based on market potential), and am considering a career change to maximize my future.

If after they walk the property they like what they see and it all makes sense, then you'd have them sign the assignment contract and send that over to your attorney/title company.From this point on it would depend on who your attorney/title company is but it should be fairly simple.

This is in an older part of town where rent is not very high, but I think I can bump it up to $550 for each unit.Rental Property Cash Flow Analysis[Property Description]Monthly Operating IncomeScenario AScenario BNumber of Units7 Average Monthly Rent per Unit495.00 Total Rental Income3,465.00 % Vacancy and Credit Losses5.00%Total Vacancy Loss173.25 Other Monthly Income (laundry, vending, parking, etc.)

Though admittedly this is a very simple and rudimentary analysis.  

Is there a simple way to do that or do you set that up through an attorney?

That's five houses on 200 to 500k lots  LOL.. houses went away and we build new construction or sold lots.. its quite sad but all were owner occs none were tenants.. usually tenants get booted before they can get as bad as these homes were.. these homes were beyond salvage plain and simple.

With only one 1 rental property I want to keep it simple.

When we do get into to contact the lack of timely professionalism on simple request leads to more frustration.

Or can it be an operating company?

@Imthiaz Ahmed just tell your lender what you want to do, it is simple.