Credit is viewed as to the situation, BK due to medical bills is almost ignored in reality, foreclosure is still an issue but understood and, what ever the issue was must have been cured, such as a death or cancer cured.

LLC documents state that in case of death of our death, the trust will inherit the LLC?

Written process for buy out and in the event of death. 4.

Even if its a piece of crap that has been dying a slow death on loopnet for 6 months.

It's been beaten to death.

hi Brian - here's the deal on delayed financing through Fannie Mae -- if you buy a property in cash, you can take cash out within the first 6 months using the delayed financing exception (other than death, inheritance or divorce this is the only way to take cash out on a conventional loan within the first 6 months) -- 1) all money used to purchase the property must be your money. 

Once money gets tight and repairs start having to be put off, the property often enters into a death spiral as lower quality tenants apply, revenue goes down further, more repairs can't be made, etc. 

He needed to take the death certificate down to the county recorder's and record it.  

The children who just inherited the place after the owners death have no desire to become landlords, and as most live farther away out of town, just want to unload the place (it was at 50k when it was listed on June 1st, and after 6 weeks dropped to 40k).Currently, I think I want to do the following:1) Schedule a walk through to assess condition2) Price out cost to renovate upstairs.

If the kids are all heirs in her will, and otherwise going to inherit her house and any bank accounts, then it seems like those same heirs would inherit her promissory note upon her death.