Most likely this will require close to 100% turnover as the new rents are too much for the existing tenant base to absorb. 

Which means the bank could call the loan due immediately, without all the lengthy non-sense required to foreclose, if the property is transferred to you.Second, you need to know, directly from the bank how much it would take to bring the loan current and avoid the short sell.  

Another one offered 7.3%, I knew those numbers existed but I haven’t actually seen them in my brief investing lifetime.

Does the note need to exist on my LLC's accounts payable?

Your Cash on Cash Return is non existent.  

I am new to the loan process.I am looking at this scenario:$1.75 MM building$475K Cash Downfinance $1,225,000I have loan options.  Building yielding $116K per year prior to PITI.NIO about $65K currently.Regular mortga...

If only one qualifies, you'll have to convince the non-qualifier to walk away, with no financial repercussions. 

@Quinn Jackson As a lender (purchaser of non-performing loans), I would pretty much never allow a borrower to do a wrap on one of my loans, assuming that there was the proper verbiage in the note itself.

Not to mention, are you actually all approved for a 30 year mortgage on rental property/non owner occupied?

Anyways if nothing works out for me here at least I know that this type of help exist for homeowners needing help and I can learn more about it.