I know my cautions might seem to raise the alarm and I don't know all the details, but these are issues I've seen with properties before and every nightmare scenario you read about on here usually could've been avoided with some due diligence.You could try to get the seller to agree to a warranty that survives the transfer of ownership, but they probably won't be too keen on doing that.Another question: Is this property listed or off-market?

We’ve been trying to transfer the deed since we moved in.

They will just move in under old ownership until we are able to close at which point lease will transfer.  

I just heard that the feds are hoping to have the banks be able to approve and fund the loan the same day. https://disasterloan.sba.gov/e...Also call your mortgage provider 

Two months in, on the 6th, I haven't received payment and also got a shut off notice e mailed to me that morning. 

To make it real simple, in your example it seems that Partner 1 could claim unreimbursed partnership expenses on his personal tax return / schedule E.

I was going to set up the tenant with e-check on the first and then use my Bank of America's bill pay to send a check to the owner for there payment. is this how you guys do it?

@Ali Boone Just so I understand this model correctly:Your operator finds people to sell him properties subject to their existing mortgages and then finds an investor to finance the renovation (before transferring the property) and then after the renovation the operator places a tenant and then sells the property to investor at a predetermined price.

Cozy has no fee for bank account transfers.

@Greg GangleSection 85 in the Canadian Tax code is a rollover which will allow you to transfer a property held in your own name into a company, which is owned by you, without an immediate taxable event.