Turns out the previous owner who was long deceased somehow received a loan from the department of public assistance (obviously an expired program) against the house.

:Complete newbie here, trying to secure my first property.

So I have 2 friends with money and we've put together a pretty good plan for building a buy and hold business and them getting safer, secured returns on their money.

But not a bad rate..If he doesn't want to drop pre-payments and you really want the financing (and you plan on holding), try to negotiate a declining prepayment penalty for the first few years when you expect it will have no impact on you.If he's trying to invest money 30 years at 6% secured by real estate, send him my contact info and I'll give him a nice fat note secured by my CA property and give him pre-payment penalties for the first 10-15 years..

Also, many times the prior owner has run off with any security deposit.

According to the GOV website here currently it appears NC allows buyer rebates. http://www.justice.gov/atr/public/real_estate/rebates-details.html Never have heard of Larry Loftis.

Bought new large machines for about $1700 I believe (delivered, w/ heavy security covers for coin boxes), so they should pay themselves off in about 2-3 years.

If I were young, had a SECURE job that I could make a living at in these times, you'd have to get a team of wild horses to pull me away.

The sale of an LLC is not a sale of real property it is the sale of a security since that is what you are selling, shares in the company whether in whole or part.

A lot of people do that to secure the homes.