So be careful and make sure you interview the Expediter and that they have had success in obtaining the Letter of No Objection.As far as evidence that you need to gather, look up your buildings TAX Class.You will find it here: Building Information SearchHere you will see something that looks like this:NOTE that while this is a Dept of Buildings Web Portal, what I have circled in RED is the Department of FINANCE Building Classification.You may not have a CofO, but the Dept of Finance maybe taxing you as a 2 Family.

But IF the property in question is in compliance with all code, and provides a safe and secure environment, all problems are timely addressed and corrected, and the property is maintained on a professional level, then the investor who has a large capital investment in the property should be entitled to enforce any contracts providing him with the agreed to cash flow. 

If you want another layer of protection get an umbrella policy.You don't want to trigger the due on sale clause for a likely low interest mortgage.Also if you aren't operating your LLC 100% you likely only have a false sense of security. 

I personally collect a security deposit and get the damage protection waiver for added protection.

Hi All,I recently secured my second rental property using a HELOC and now I'm thinking about my next purchase.

All I am asking is a reference to a bank that has a good web site that will allow me to do all my online transactions and be easy to work with.

Extensions may be granted for valid reasons, like needing more time to secure financing or complete due diligence.

not to mention also they become zombie notes collateral will deteriorate pretty quickly if they are not winterized and secured ( which takes time and money)

The court would typically write down the secured note amount to no higher than the appraised value, with the balance of the amount owed being placed in the unsecured creditor status.  

The rent and security deposit should be used towards and damages.