Have the seller provide bank statements showing monthly deposits matching the amount he said each tenant has been paying.

@Joseph Shaggs i would let the bank know ahead of time.

For people that are just starting out, there’s nothing better for finding income and expenses than having separate bank accounts for business and personal.

Since I plan to use the FHA program, is it better to just go to a bank directly than to use a mortgage broker?

Title report via escrow on this property showed a junior lien taken out at the same time as the senior lien from the same bank (Country wide).

I'm a little bit different, I don't use banks, I don't worry about ROI, I usually get built in equity when I buy, I always get $500 or more per door monthly cash flow, and I don't have to worry about Cap Ex or deferred maintenance.

There may be a lot of fraud (especially here in South Florida) but for a homeowner who has this vacant property that they don’t know what to do with, I would still think overall that completing a short sale (with acceptable terms from the bank) and having their credit reflect a settlement on their mortgage would be the more safe route.

Fortunately, she has indicated that at her age, she will not need to purchase another home.I assume, I'll need to have her quit-claim the deed, put me as a beneficiary on the insurance, and give my attorney any information and authority necessary to deal with the bank in the future, should there be any problems.Has anyone done this before?

We knew that you had to ensure separate financial records, bank accounts and shouldn't purchase items for the rental properties from our personal accounts.

Banks won’t lend a loan on 10 different llc in a portfolio loan .