Banks have are a bit wiser and are now requesting proof of ownership of the LLC before hand and POF.

@Brianna Schmidt The seller's ears must have been ringing, she emailed me yesterday and requested I contact a reliable contractor and give her an esitmate.

Amend lease to reflect the new property conditions and the new rent and have them sign and date.3) Request politely that they not use profanity, say you hear that they are upset by the change but unfortunately your hands are tied, and in response to any threats calmly assure them that "Pay rent or quit notice" will be served following the lease guidelines if they do not pay rent.Not legal advice, but that is how I would handle.I would also probably look at selling this property down the road unless the cash flow is really good.

Buyer agrees to use best efforts to pay off existing loans that are in sellers name within five years of close of escrow.)Protection for the sellerBuyer will execute a quitclaim deed back to the seller, which is held in escrow unrecordedHow to protect the buyer in the chain of title and potential future creditors of the seller.For the buyers protection a lien of some percentage (I like to see at least 20%) of the purchase price in favor of the buyer executed by the seller will be recorded a "Sellers Performance Deed of Trust" The buyer will appear to be a juniors lender for public record purposes.The seller is protectedFor the sellers protection a reconveyance of said deed shall be executed by the buyer, which would be recorded in the event of a default upon request of the seller, which remains uncured for sixty (60) days upon written notice of default, has been mailed to the buyerThis would allow the management company to unilaterally remove buyers cloud on the title by using the pre-signed reconveyance if the default was not cured as outlined.You might be interested 1.

Six months later the man moved out and requested "his" deposit back.

In order to get around that, get an LLC and request an S-Corp Status its a 2553 form.

I know the process takes a long-time and there are many rules and it is definitely not the same as owning the property.Dion, I sent you a connection request.

Asking for ten comps on 12 properties is excessive.Personally I think he did more than 90% of realtors would have with that request.

However, info on the web is scarce.Will check on Tuesday,Thank!

I've searched around and haven't found a solid answer for this due to all the "wholesaling takes NO money" stuff that is all over the web.