If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

@Christian Ryan,We now use rentredi.com, it's been pretty good so far, but payments take a long time (4-5 business days) to transfer.   

@Justin Walters If you send me the purchase price I can send you the base numbers.Generally speaking on a cash deal in MD that will be State Transfer Tax + State Recordation Tax + County Transfer Tax + Recording Fees. 

Dear Jay Hinrichs,In terms of my loan criteria, Please find my terms listed below to help guide you throughI offer a wide range financing that involves the following and many more.a) Personal loan (unsecured) and (secured)b) Business loan (unsecured ) and (secured)c) Purchase and Rehab (100% financing)d) Debt consolidation.e) Non Asset Based Loanf) Real Estates2) The loan duration is 3 months minimum and 20 yrs maximum.3) Interest rate is 5% flat.4) There is no prepayment penalty.5) All funds transfer will be made through the bank which means the repayment and the funding of your loan.6) A loan contract will be secured and issued for you to sign.7) All information regarding this transaction would be treated strictly confidential.8) The repayment of the loan will be made on a monthly.

Terrible communication, missing payments, longer than expected vacancies, and surprise bills that I am not educated on.On that note- if anyone recommends a different PM to transfer to for KCMO, I'd love to hear it!

Should I transfer it to an IRA or take a lump sum payout to invest in another rental?

In Depth;Scenario 1:You or your family have an LLC named FLLC with $X cash reservesYou place an offer on a property and purchase it via loan / note written from the FLLC(lets say 15% down);You then immediately go for a regular refinance and are able to to get down to a 15% down conventional as a primary residence or a 20% down investment propertyScenario 2: You or your family have $X in cash reserves You place an offer on a property and purchase it via cashYou then refinance immediately via delayed financing exemption (this may cost you higher interest rates because not all banks know about this or are willing to do it and this is a cash out refi which is a different product than a regular rate and term refi, again more points higher cost)You can only refi up to the cost of the purchase price + renovations cost OR appraisal price - whichever is lowerYou can see the clear powerful advantages of scenario 1 here if you purchase a property below ARV- my only concern is;- In scenario 1, banks will need your statements and will pull your credit, they will easily see that your HELOC or cash reserves or whatever were transferred to your LLC account and thereby be able to identify that the LLC funding you is yours.

My number one best all time creative financing of a property that I ever did was for a purchase of a empty lot two blocks from the ocean in Long Branch, I was reading the local auction list in my city when I noticed a property that at auction two weeks before that opened at a starting bid of $25,000 did not receive one bid, I went to the auction thinking I was going to pick it up for $10,000, I get to the auction at City hall and when the bidding started for this particular property I waited to see who was bidding, a man started it and I waited until nobody bid to start my bidding, well this man really wanted this property and so did I, when we were at $50,000 I started to try and knock him out by bidding in $1,000 increments instead of $100 increments, every time I bid he bid a $100.00 more, this went on until my winning bid of $66,700 and it was now mine, now if you don't know much about city auctions you do not walk around with that kind of money, a 10% deposit is what this auction required and they give (I forget the exact amount of time maybe 30 to 45 days to pay in full) now comes the creative financing part, I take my high credit card limit at the time of $72,000 (I saved all the 0 % introductory rate checks if paid to another credit card balance transfer and pay off another credit card that had a small balance of $1,000 and overpay the bill by $68,000, the overpaid credit card company sends me a over-payment refund check for $68,000 (that is 0% for six months being that it was a balance transfer offer of 0% for six months) I pay in full for the property within the time allowed by the city, (this was in 2003) I refinance another property that I increased it's value with the creative equity work I put in and got a favorable appraisal that allowed me to park the debt into a 30 year mortgage, the empty lot sold in June of 2006 for asking price of $229,000 with a profit of almost $150,000 after commissions, property taxes and maintenance/lawn cutting.

You would have to take title in your/husbands name and use a quit clam deed to transfer ownership to the LLC after closing.  

It could have transferred to HUD, look at their website in a month or so.