We buy bother personal that we turn into rentals when we are transferred and pure rentals, that we rent out from day one.

I've been an "accidental" investor since 2007 when my wife and I bought our first home and decided to rent it out when we transferred.

I was stationed in Norfolk for two and a half years before transferring to Japan.

I don't think it's common for the bank to straight out give you permission to assume the loan, or to make payments on behave of the borrow, but since this is a friend of yours, you could potentially leave the loan in their name, and simply start making their payments for them and have them transfer the title to your name.

What should be happening: the title company does the title work, guarantees there's a clear line of ownership on the title, title insurance company issues title insurance, closing is scheduled, final walk through, sign papers and transfer funds, get "your copy" in the mail a couple days/weeks later.

Furthermore, I doubt that the pier is physically tied via post-installed anchors so there's no lateral resistance or moment transfer.

Although unusual for syndications, there is the 1031 option known as drop and swap, where a syndication LLC or LP would modify and transfer the ownership structure of its members/partners to tenants in common with sufficient hold time to prove intent to hold for investment for the exchanging owners. 

Unknowingly buying a junior lien, a property with tons of back property taxes due, or with deed issues that effect marketability or transferability will tank you.

You have to double-bag them, and the North Point transfer station in Lindon Utah accept asbestos.

As I just implemented it we can only wait to see how this works, however we did setup the ACH transfer in our system (I just switched from Cozy to Rentec Direct) and have begun the process... so money is coming in as scheduled.I thought about the eviction route as well (they have been with us for 3 years now - relatively quiet and stable), however in thinking through the costs of just the make-ready its not worth the hassle... new carpet, paint... an month of vacancy.