@Loic Billiau You are correct.

If i am not mistaken, i can just Quit Claim Deed the property to the individual and sign a simple sales contract correct?

That being said, those who warned you not to invest long distance are correct, it will be a challenge but the rewards are worth it in my opinion.

If there is a loan, the settlement statement should be corrected to reflect this money, assuming you can actually get it at this point."

Is this correct?

Dale Osborn - You are correct and that's what my partner and I are preparing to do now.

you come here asking questions (which is great), but then argue with those peoples' opinions...just so you know, as real estate investors, we always have risk..and any contraact can be used, just like any argument can become a frivolous lawsuit....and you being a fancy real estate investor with your expensive contracts fighting against a helpless defenseless homeowner in default doesn't make you look good in front of a judge...so let me try to see what you're doing...you want to purchase properties from motivated sellers sub2, correct?

If that meeting doesn't offer a common sense solution (like allowing you a waiver on this fence but requiring any replacement be correct standards) then some states have a board or independent agency that helps owners with disputes with their associations, so look that up to see if you have one of those as the Board being contacted by an outside party might help immensely.

The only concern I would have would be if you were planning to hold properties in the LLC to make sure it was set up correctly to prevent corporate veil piercing by tennants

Amber,Your whole post is irrelevant because you are saying THE SELLER is telling you what the bank said.If you believe the seller is relaying all correct info from the lender you are headed for a disaster.Get the ATR (authorization to release info form) signed by the seller and give ALL LIEN HOLDERS on title a copy.Now you have the ability to talk to the lender or servicer directly and get 100% of the information you need.