I have several bank accounts currently for different purposes but they are all tied together so I can transfer from one to another.

@Eric WalletYou should tell us which state because every state is different..Bill of Sale should be notarized by both parties at the same timeIn Ohio it's usually title being transferred..Bill of Sale is used if somehow title is old and lost on translation..When your dealing with mortgages I would hire an attorney to close the deal..

Unless the eviction can be transferred.

I use an online service that does these transfers.

However, the original title company said even though the transfer occurred during the original owner "MARY" did not own the property, the liens associated with JOHN could "stick" onto the property.

You are going to incur transfer taxes anyway, as well as the cost of an additional insurance policy.

I know you meant to include it, but for others reading, you need to subtract out rehab cost as well in coming up with MAPP.On selling costs, be sure to include agent commissions, settlement fees (deep prep/transfer/etc.), and factor in the potential for seller concessions (FHA buyers with minimal cash often request 2-3% seller concessions to cover their closing costs, and can ask for up to 6%, per FHA).Don't assume you can necessarily gross up the sales price to recover these concessions, as the property has to appraise out.

Knowing about the late pay guy up front would have saved me some stress, but still not a big deal.You also want to check that lease for the security deposit amount- this money should be transferred to you at closing.

Could you explain how can you be on the title before you market for re-sale, if you have to do POS violation removed or assumed before the title transfer?

I created an LLC and transferred the deed to my first (and only) investment property into the LLC.