I contacted the title agent and  I was told it was an easy fix with a scriveners affidavit and reached out to the previous owner who agreed to sign a corrected deed but now the previous owner is not cooperating (previous owner says he is still paying a mortgage on the foreclosed property somehow).  

For example, if the property were fixed up today, it might be worth only $60K or it might be worth $200K. 

For every 50 people who say "You have to form an LLC if you own rental properties", there's another 50 who say, "No, just get a good umbrella policy".Here's my situation........My wife and I purchased a single family home in NY a year and a half ago and have been fixing it up (don't ask why it's taken so long.

Also, is it possible to refinance out of the hardmoney loan as soon as the property is fixed up?

fix it and bill the tenant

All duties will be split, however because he lives 1.5 hours away, I may Be more active with tenants/fixing issues that arise..

We've since fixed them up and everything is flowing smoothly along.

Hello,I am in the process of purchasing my first rental property (30 year fixed).

The goal of the wholesaler is to get distressed properties for rehabber a to fix it and do their thing.

In my experience a bank that gives out investment loans on 5-10% down, 30 year fixed interest is rare (I would even say unheard of).