Transferring a property to an LLC is common practice now a days and doesn't effect their rights given in the mortgage at all.

Given the issue with the leases, I'd try a walk away close and explain to the seller how, besides $75k off asking price, they can address the gap in rent.On the leases surviving foreclosure, I'm skeptical they survive.

Was even able to get his home address.

Since I live in Miami & I am not familiar with heating systems, what electrical baseboard heating systems do you guys recommend that are cost effective & get the job done.

Etc..Active links to BP threads already addressing this issue would also be extremely helpful.Thanks in advance for all of your help.

This has to be a nice example of the effects of judging a book solely on its cover....Kudos,Mary

I bet if you posts the address on this thread you would have the perfect rent confirmed for the house within 24 hours.

Based on the new Dodd Frank rules effective January 10th, a sale is defined as a "Flip Transaction" is the new price is at least 10% higher than the previous sales price and deed has transferred within the last 90 days, OR if the new price is at least 20% higher and the deed has transferred within 91-180 days.

You can address that too in your lease next time. :)

Other problems you will have ........Mail , you only have 3 units so technically you will not have a legal address .