This will mess up your Debt To Income ratio and can prevent you from buying another house if it skews that percentage too high.OK class, by now you should know if you CAN rent your home out or if you NEED to sell.

Although it might be costly up front, the importance is getting it done correctly to prevent issues in the future.

I would also need to point out that if you purchase it outright, DOS clause will prevent you from transferring title to the LLC without consequence.

Many mistakes can be prevented by having experts on hand.

Also,tell the seller you want the property delivered vacant before you pay him a nickel.Cat lady being evicted is his problem,not yours.Find out what the West Virginia laws are and have him give her the 30 or 60 day notice to leave the state requires ASAP to prevent further delays.Remember,you must put "Seller must deliver property vacant at close of escrow" in the contract so you don't inherit his negligence of a freeloading tenant who's apt is probably a disaster area to be completely gutted.

I believe what makes a person a hoarder is a mental issue that prevents them from letting go despite the impact it has on their lives, which makes it difficult to even sell their house.

And like you I get close but then something ALWAYS prevents me from signing.

Oh, and quick note: the hard money folks know this trick, so expect points up front, a crazy interest rate, or a prepayment penalty to prevent you from refinancing so soon (giving them time to collect some interest from you).

Most importantly I believe it will give me control over my financial status for the rest of my life, and prevent me from having to depend on 40hr work weeks just to get by.At this moment I am currently mostly looking into investing in owner occupant multifamily homes, as I am still fairly young and believe this will give me good investing and life experience(also out from underneath my parents roof lol). 

Only thing that will prevent finishing on time is unforeseen issues with the house....or inspection times are days out.