So, after you move out, you have 3 years to demolish everything and transfer it to the State.

Finding the right tenant is key to successful investment property ownership.

Unfort transfer to an LLC will require me to pay state transfer taxes

She would like to transfer lease to a new person (we run credit check, the new person looks good).

Additionally, business purpose rental lenders have no ownership seasoning or short ownership seasoning to get cash out even up to 80% cash out.

Question- if I become added to the deed of a property, and then the property is refinanced to make me the primary owner and to remove the previous deed holders, would I still need to put down the 20-25% down payment? 

Having never owned real estate, a good way to get started would be by owning my primary residence for a while, with the intent of eventually renting it out in a few years and in the meantime seeing how I feel about maintenance and home ownership in general.

Thanks to my high W2 income and not having any debt, it would also be easy to get approved for some cheap 2.x% financing.Having never owned real estate, a good way to get started would be by owning my primary residence for a while, with the intent of eventually renting it out in a few years and in the meantime seeing how I feel about maintenance and home ownership in general.Unfortunately, the areas I am looking at are in very high demand (River North, West Loop, Fulton Market), and have prices such that I would at best barely break even with rent after taking into account HOA and taxes ($300k-500k range for 1-2 bd, HOA in the ~$500/mo).I understand condos in downtown are generally a bad investment, but I really don’t want my quality of life to suffer by moving far just for the sake of home ownership.

I noticed that the payment was never pulled and on my mortgage portal it says "Payment Date: Servicing Transferred" There is a notification that says "Please refer to your servicing transfer letter for more details."

Find out the current balances, the security deposit amount (make sure you get it transferred.) and look for current security deposits deductions.