In this particular thread, people are doing it to free up their VA or FHA loan entitlement.In general for non-biggerpockets.com people, the motive is because they can get a better mortgage today than they could when they purchased the home.

450k primary residence home in TN, seeking lender who would do 20-30yr fixed or balloon, non FNMA only due to the client having large cash holdings but no income in 2016 / 2017 due to their large section 179 tax depreciations those yrs Thank YouJames

450k primary residence home in TN, seeking lender who would do 20-30yr fixed or balloon, non FNMA only due to the client having large cash holdings but no income in 2016 / 2017 due to their large section 179 tax depreciations those yrs Thank YouJames

He'll make the rent, so I wont be able to evict him for non-payment, but at least I dont have to deal with inspections etc....

In either case there most likely would be a public record showing the transaction and parties involved. 

They can have connections to multiple banks, local and non-local, so they might be able to find one that fits your needs.

If you've occupied your current primary residence for 2/5 last years the gain on the sale of that property will be non-taxable. 

If using a lender this is a non issue.

The FIRPTA Certification requires that if a selling party is a non-resident for purposes of U.S. income taxation, a portion of the sale is withheld.  

I moved out and and rented it to a non traditional renter, who put down a huge deposit.