You would need to have the property in your personal name to refinance, however Fannie Mae allows you to transfer title to an LLC that is majority owned by the borrowers.

@Marjorie Martin There is no question what amount the county charged for taxes for the year 2019......anyone can simply go to the Tax Collector site for that county and enter the address.The reason the property taxes went up significantly when it transferred from your father to you and your sister, as you are apparently unaware, was likely due to FL Save Our Home laws which cap the annual increase for a person’s homestead in assessment value at 3%/year.  

If you decide to go for it, make sure the company you use to remediate, has been at it a while and offers a transferable, lifetime warranty.  

As for LLC- it is my understanding that you can transfer afterwards but to start it will be in your names.

I love the possibility of a 7% PM fee for 9 units - Do you have any PM recommendations that are reliable, investor oriented and service Easton / Lehigh Valley?  

Thanks for your help!  John

Why not.. especially in Ontario when you will get a break on the land transfer tax.

The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…

Yes, Fannie Mae changed their rules on 6/1/2016 to now allow a borrower to transfer title to an LLC that the borrowers on the loan are the majority members of, without it triggering a due on sale clause.

If your property is financed, then moving it directly into an LLC will trigger a transfer tax in Florida.