Luckily bank agreed to make repairs needed to pass four point.I had to get a renovation loan insurance policy where I paid for a year up front in escrow and they would pull $400 a month till renovations were completed and then I could find a new insurance policy and the remaining escrow would be transferred to the new policy.Paid $540 for an appraisal.

The HOA in which the unit I am purchasing provided their HO-6 policy to our lender and our lender is questioning the following as it appears on the policy:Special FormReplacement Cost (Actual Cash Value on Roofs)The verbiage in parentheses is the one causing the hold and need for clarification.

How did you go about transferring the deed?

With over 20 years of experience in real estate and having navigated various transaction types, I'd be happy to provide more personalized advice on managing such investments effectively.

I basically try to adapt and work with whatever the market is providing me..

I have to transfer them from an LLC with multiple members to another LLC.

I appreciate time and efforts of Kim, Adam, and Ryan to provide such clear and informative answers!

I will need a lender to provide the money for repairs, then I can refinance and rent.

It's crucial to have someone who can provide proactive guidance and help navigate the tax implications of decisions as they arise.

Real estate can provide a more tangible asset and potential for rental income, but it requires more management and can be less liquid.