They seem to be ending the bidding with no winner but then selling the properties at below reserve price to whoever the highest bidder was, plus 5k (based on an analysis of 2 sales so far, so not very many data points.)So glad you got a deal and thanks for giving us the update!

@Josh Caldwell - without looking at the data, I bet that rents in Ames, Iowa were really low and that 22% increase is something like median rents going from $400 => $500.

But if this is a hard-to-comp property and you're getting no responses, a more drastic test may be needed to try to generate some data.

You shouldn't need an option since at closing the title will be transferred to you, right?

My current project has nine separate services which was expensive and is a bit of a PITA to transfer the water bill to the tenants.

Transfers between legal entities (i.e., corporations, partnerships) that are owned by parents or children do not qualify"https://www.sccassessor.org/index.php/tax-savings/...

If you transfer the cash to a different custodian, the new custodian will report the Fair Market Value of the account.

(Not good).The good side, seller was able to provide supporting data for all tenant, 2 of the 3 tenant have stayed over 4 years and the third going to 2nd year.

I am able to get very favorable financing in my personal name but can't transfer to an LLC by lender rules. 

First, we're in the process of formalizing our business (more-so than it has been) and as part of that, we've gone through entity setup in the states where we operate (North Carolina and New York) and as part of that, had a desire to move ownership of our properties over to the commercial entities, the right way (eg; a commercial loan, not just transferring ownership and crossing our fingers).