.- Have a payment go through a servicing company, that sends the money directly to the bank and the insurance and the taxes -  Open up an escrow account for the sale, which spells out escrow instructions when the exercise date is and what happens if the buyer defaults- have a "memorandum of agreement" recorded against the title of the property to let the world know that there is some kind of an agreement signed about this property,  recorded against the title of the property to let the world know that there is some kind of an agreement signed about this property, this should prevent any refinancing or sale of the property This should prevent any refinancing or sale of the property - in the case of elderly people being the seller, or if the seller seems like they're incompetent in someway ,  in the case of elderly people being the seller, or if the seller seems like they're incompetent in someway,  see an elder care attorney about making sure that there is a competent parties signing agreements @Bill Gulley may want to add@Steve Vaughan also.

After refinancing the rental we were just breaking even on the property, but it was better than losing $50k! 

This deal cannot be refinanced without money down and lots of it.My advice, keep looking.

I believe the rental could bring in $1100 max but my mortgage is higher than that...which is where I end up with the problem.Is it worth refinancing to lower rates to being my payment down or should I make some minor repairs and try to dump it.Mike

You will be refinancing the ARV(After Repair Value), so you can add that "missing" 10% back with the equity you create with rehab.

The house is paid off so there is good cash flow.I am not experienced in the ways of loans-- have just had 3 run of the mill fixed rate mortgages and haven't worked with refinancing, improvement loans, etc..

Refinancing after 6 months or certainly a year should be very doable if you are really getting that great of a deal. 

She refinanced in the last year or two.

So I bought a house with No money just 2,500$ for closing, my lender is giving me 100k at 7% interest for a year.Bought the house at 63k putting in 25-30k into the house and once I fix it up I'm thinking of refinancing it with a bank.

Good evening, I am in in the process of refinancing one of my multi family properties (2unit).