LOLBut it also broke the chain of warranty from one owner to the next, this is not an issue for those exceptions (divorce etc.) pointed out above, but your LLC could have clouded or encumberd title and passed it to you as far as the next buyer knows or next title company knows.

If it was just on the phone it is hard to prove.I won't put anything into a statement unless they will sign a statement saying so.If they do not feel strong enough to sign then I can't put my faith in what they are saying is true or to count on it.If you don't have clear title you don't have anything.You simply have to wait it out or accept to close with a defect or cloud on the title and handle it later.Everyone usually waits it out or cancels the contract.This is also why I do not believe putting up large amounts of earnest money on short sales.They lock up the money and the chances of closing are 50/50.

I use Buildium software which comes with cloud based tenant screening software and a rental application feature.

That is an important story to understand as the cloud of student loan debt hangs over the heads of many Americans.

Your 1% does cloud the title and you can negotiate how much the owner needs to pay you (after 3 years) for you to quit claim your 1% back to him.

Sorry to be the dark cloud here.As a new lender and your buddy as a new investor, IMO, dump the whole concept of boarding house and that manager company there are devils in the details that you folks don't want to learn the hard way.

Before going any further and clouding the OP for the state of PA, perhaps let's post up the discussion around the state of California.

I plan to go with a comprehensive cloud based solution when we start managing property as a business next fall.

I will be working on a blog and/or website, any suggestions on a good host and so forth would be appreciated.

There are a host of other possible reasons as well.Finding the problem and solving it professionally just alleviate most potential buyers fears.