They need time to repair their credit so they can qualify for a mortgage.3.

Additionally, moving a personal mortgage loan to the LLC would trigger a clause that would require me to pay off the loan.

To get the best bang for you buck, you need to get a Mortgage Credit Certificate (MCC) with your VA loan here in Texas.

He is a great realtor/instructor and knows a lot about mortgages and super great with buyers and also buys and flips in Charlotte. 

Not many lenders out there allowing a second mortgage position behind their first position on a non-performing asset or even a performing asset because if the borrower defaults on the second position then the holder of the second can start foreclosure proceedings on the property and it gets very messy for the the first position holder.

My partner and I own 1 rental which pays the mortgage payment and will cashflow next year.

My note investing goals;Buy lowNon-performingHold and collect mortgage payments Resale to an investor looking for performing note Address: 2124 Tullis Dr Montgomery, AL 36111Asking: $42kLayout: 3/1, single family homeArea: CLien position: 1st UPB: $80,968.80Monthly mortgage payments: $719.78Sale comps: $62k Rental comps: $600 per month4 months behind on mortgage paymentsTaxes: $218/year (actual, from county website)Insurance: $217/yr (based on a formula for a home in the 50k-60k range)Here are my thoughts on how to underwrite it: Offer: $28k Fair Market Value: $62k Modified mortgage payments: $650 monthlyPayment upfront: $5kI came up with the 5k based on lawyer fees, BPO, tax for the yr, insurance for the year and servicer fees.

@David De Luna Save yourself the heartache, just call a mortgage broker/lender.

I could personally go out and get a traditional mortgage for more than I'm looking for at a great rate, but our properties are owned by our LLC.Any advice?

My mortgage broker says it should be fine but I'm not 100% sure.