I feel I shouldnt have to pay the bill from before I owned the property, but I want to know if this is handled just like buying a property with a lien on it.

I know it's not entirely necessary to involve them in wholesale deals but I've been told that they handle all the different legal actions and aspects of the transactions for me.Anyways, my question is what exactly should I do and say when presenting my purchase agreement and contract assignment to a Title Company or Closing Lawyer?

How I handle off market situations like this...

I am currently in the process of taking over two of my moms' properties that she can't handle anymore which will put me at 3 homes.

I am currently in the process of taking over two of my moms' properties that she can't handle anymore which will put me at 3 homes.

Hi Bigger Pockets Family,I was wondering how everyone handles their capex & reserves.

Many investors make good money, but they are miserable.There are several serious assets a person should have before they jump into real estate investing such as:a) enough cash to handle the unexpected repairs, vacancies, tenants who don't pay rent and legal costs,b) enough math skills and many other experiences about properties to understand whether or not the purchase of a property will result in a profit,c) enough math skills to calculate your profit at the end of every year and this includes understanding enough math to calculate your profits from depreciation, rent income, rent increases, property appreciation and increased property value that results from rent increases e.g. using the Gross Multiplier.d) the mental maturity and skills it takes to deal with tenants who, who destroy your property, don't pay their rent and then to deal with evictions and attorneys without getting stressed and going insane.e) be knowledgeable about real estate rent laws andf) ability to produce accurate bookkeeping records for banks annual audit and the IRS audits.So, when many people ask if the real estate business is good to get into I don't think it is right to just tell people, "'Anyone Can Do It".

The "skin in the game" issue is handled because the deal really only works if *both* properties are on our portfolio (at least until we can refinance out of FHA and seller financing).Seller likes this offer, but is now realizing he'll have a substantial capital gains and depreciation recapture tax bill from selling these.

Yes, you can hire an attorney to handle all the paperwork.

If there's anything else that would need to be handled for this I'd also appreciate knowing that.